7,983 General Motors Company $GM Shares Sold by VestGen Advisors LLC

VestGen Advisors LLC trimmed its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 49.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,203 shares of the auto manufacturer’s stock after selling 7,983 shares during the quarter. VestGen Advisors LLC’s holdings in General Motors were worth $632,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of General Motors during the 2nd quarter valued at about $5,958,995,000. Bank of America Corp DE acquired a new position in General Motors in the second quarter worth approximately $629,465,000. Legal & General Group Plc bought a new position in General Motors during the second quarter valued at approximately $599,066,000. Bank of New York Mellon Corp bought a new position in General Motors during the second quarter valued at approximately $522,916,000. Finally, Deutsche Bank AG acquired a new stake in General Motors in the second quarter valued at approximately $383,939,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Down 0.1%

GM stock opened at $87.33 on Monday. General Motors Company has a 1-year low of $66.75 and a 1-year high of $91.85. The firm has a market cap of $73.67 billion, a P/E ratio of 20.03, a P/E/G ratio of 0.49 and a beta of 1.40. The business’s 50 day moving average is $83.09 and its 200-day moving average is $80.62. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 1.32.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 20th. The auto manufacturer reported $3.70 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.01. General Motors had a net margin of 2.12% and a return on equity of 19.36%. The firm had revenue of $50.02 billion for the quarter, compared to analyst estimates of $48.78 billion. During the same period in the previous year, the business earned $2.80 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts anticipate that General Motors Company will post 13.38 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, December 4th. General Motors’s payout ratio is 16.51%.

General Motors declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 20th that authorizes the company to repurchase $20 billion in shares. This buyback authorization authorizes the auto manufacturer to purchase up to 27.5% of its shares through open market purchases. Share buyback plans are generally an indication that the company’s board believes its stock is undervalued.

General Motors News Roundup

Here are the key news stories impacting General Motors this week:

• Positive Sentiment: Hybrid expansion strengthens product strategy: GM confirmed that its Lansing Delta Township plant will produce hybrid vehicles, including anticipated Chevrolet Traverse, GMC Acadia and Buick Enclave hybrids. The company and the Department of Energy are restructuring a previously awarded $500 million grant to support the investment, helping GM address demand for vehicles between traditional internal-combustion models and EVs. GM confirms Lansing Delta Township plant will produce hybrid vehicles
• Neutral Sentiment: Nasdaq listing planned: GM is reportedly shifting its stock listing to Nasdaq, potentially improving visibility among technology-oriented investors and aligning the automaker with other major companies that have made similar moves. The change is mainly a trading and branding development rather than an immediate change to GM’s operating fundamentals. GM is shifting gears to the Nasdaq
• Negative Sentiment: $220 million driver-data settlement adds legal and reputational costs: GM agreed to pay 36 states to resolve allegations that it sold or shared drivers’ vehicle-use, location and braking-behavior data with data brokers and insurers. The agreement requires affirmative express consent before collecting or sharing such information. State allocations include $7.2 million to Michigan, more than $6 million to Connecticut, $3 million to Maine, over $2.5 million to Alaska and $8 million to Ohio; drivers generally will not receive direct payments. The settlement could increase compliance costs and scrutiny of GM’s connected-car and OnStar data practices. GM reaches $220M settlement over selling drivers’ private data

Wall Street Analyst Weigh In

GM has been the subject of several recent analyst reports. Weiss Ratings upgraded General Motors from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday. Yorkville Ives started coverage on shares of General Motors in a report on Monday, October 5th. They set an “outperform” rating and a $100.00 price objective for the company. TD Cowen reiterated a “buy” rating and issued a $132.00 target price on shares of General Motors in a research note on Wednesday, October 21st. Jefferies Financial Group upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their target price for the stock from $90.00 to $99.00 in a report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft set a $98.00 target price on shares of General Motors in a research report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

General Motors Company Profile

General Motors Company (NYSE: GM) is a global automotive company headquartered in Detroit, Michigan. Founded in 1908, GM designs, manufactures and sells vehicles and related services through brands including Chevrolet, Buick, GMC and Cadillac.

GM’s product lineup includes passenger cars, pickup trucks, sport utility vehicles, commercial vehicles and electric vehicles. The company is also developing connected-vehicle technologies, driver-assistance systems and charging and energy-management solutions.