Cerity Partners LLC Has $23.97 Million Stake in General Motors Company $GM

Cerity Partners LLC reduced its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 2.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 487,070 shares of the auto manufacturer’s stock after selling 10,152 shares during the quarter. Cerity Partners LLC’s holdings in General Motors were worth $23,969,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Trust Co. of Toledo NA OH bought a new stake in General Motors in the 2nd quarter valued at approximately $25,000. GFG Capital LLC bought a new position in shares of General Motors during the 2nd quarter worth approximately $27,000. RMG Wealth Management LLC acquired a new stake in shares of General Motors in the second quarter valued at approximately $32,000. WPG Advisers LLC bought a new stake in shares of General Motors in the first quarter worth $34,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in General Motors during the second quarter worth $38,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

Shares of GM stock opened at $77.07 on Wednesday. General Motors Company has a 52 week low of $41.60 and a 52 week high of $77.35. The company has a market capitalization of $71.90 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.86 and a beta of 1.30. The company has a 50-day simple moving average of $67.10 and a 200 day simple moving average of $58.44. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.06 and a current ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The firm had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. During the same period last year, the business posted $2.96 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, sell-side analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, December 5th will be paid a $0.15 dividend. The ex-dividend date is Friday, December 5th. This represents a $0.60 annualized dividend and a yield of 0.8%. General Motors’s payout ratio is 12.07%.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent research reports. The Goldman Sachs Group lifted their price target on shares of General Motors from $81.00 to $93.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler set a $66.00 target price on General Motors and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Wells Fargo & Company increased their price target on General Motors from $46.00 to $48.00 and gave the company an “underweight” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on General Motors from $60.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 30th. Finally, Citigroup increased their price objective on General Motors from $75.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.86.

Insider Buying and Selling at General Motors

In related news, President Mark L. Reuss sold 260,600 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total transaction of $17,316,870.00. Following the transaction, the president directly owned 98,006 shares of the company’s stock, valued at approximately $6,512,498.70. This trade represents a 72.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 6,600 shares of General Motors stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $61.95, for a total transaction of $408,870.00. Following the completion of the sale, the executive vice president owned 8,513 shares of the company’s stock, valued at $527,380.35. This trade represents a 43.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,288,534 shares of company stock valued at $79,253,568. 0.54% of the stock is currently owned by insiders.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.