General Motors Company $GM Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 48.7% in the 2nd quarter, Holdings Channel reports. The firm owned 150,191 shares of the auto manufacturer’s stock after selling 142,767 shares during the quarter. Bank of Nova Scotia’s holdings in General Motors were worth $7,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in GM. Trust Co. of Toledo NA OH bought a new position in General Motors during the 2nd quarter worth $25,000. GFG Capital LLC acquired a new position in shares of General Motors during the second quarter valued at $27,000. RMG Wealth Management LLC acquired a new position in shares of General Motors during the second quarter valued at $32,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of General Motors during the second quarter worth about $38,000. Finally, WPG Advisers LLC bought a new stake in General Motors in the 1st quarter valued at about $34,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the subject of several recent analyst reports. The Goldman Sachs Group upped their target price on shares of General Motors from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Research raised General Motors from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Wedbush set a $75.00 target price on General Motors and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Barclays lifted their target price on General Motors from $77.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price target on General Motors from $60.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 30th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, General Motors has an average rating of “Moderate Buy” and a consensus price target of $73.57.

General Motors Stock Up 4.8%

GM opened at $80.84 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.06 and a current ratio of 1.23. The company has a market capitalization of $75.41 billion, a PE ratio of 16.26, a P/E/G ratio of 0.88 and a beta of 1.30. The stock’s fifty day moving average is $67.49 and its 200-day moving average is $58.60. General Motors Company has a one year low of $41.60 and a one year high of $80.95.

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

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, December 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, December 5th. General Motors’s payout ratio is presently 12.07%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 6,600 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $61.95, for a total value of $408,870.00. Following the transaction, the executive vice president owned 8,513 shares of the company’s stock, valued at approximately $527,380.35. This represents a 43.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher Hatto sold 7,724 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $72.00, for a total value of $556,128.00. Following the sale, the chief accounting officer directly owned 12,007 shares of the company’s stock, valued at approximately $864,504. This represents a 39.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,288,534 shares of company stock valued at $79,253,568 in the last ninety days. Company insiders own 0.54% of the company’s stock.

General Motors Company Profile

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.