General Motors (NYSE:GM) Position Raised by Park Avenue Securities LLC

Posted by Defense World Staff on Jul 2nd, 2023

Park Avenue Securities LLC lifted its position in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 14.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 44,375 shares of the auto manufacturer’s stock after acquiring an additional 5,752 shares during the period. Park Avenue Securities LLC’s holdings in General Motors were worth $1,628,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in General Motors by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 111,810,845 shares of the auto manufacturer’s stock worth $3,588,010,000 after purchasing an additional 4,251,190 shares during the last quarter. State Street Corp grew its holdings in General Motors by 1.0% in the 3rd quarter. State Street Corp now owns 57,792,618 shares of the auto manufacturer’s stock worth $1,854,565,000 after buying an additional 572,357 shares in the last quarter. Bank of New York Mellon Corp increased its position in General Motors by 13.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 15,240,329 shares of the auto manufacturer’s stock valued at $489,063,000 after acquiring an additional 1,814,943 shares during the period. Morgan Stanley raised its stake in General Motors by 6.5% during the 4th quarter. Morgan Stanley now owns 15,011,042 shares of the auto manufacturer’s stock valued at $504,972,000 after acquiring an additional 921,435 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in General Motors by 93.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 14,763,488 shares of the auto manufacturer’s stock worth $496,644,000 after acquiring an additional 7,115,861 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

General Motors Trading Up 0.9 %

General Motors stock opened at $38.56 on Friday. The company has a 50 day moving average price of $34.54 and a 200 day moving average price of $36.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 1.10. General Motors has a 52 week low of $30.33 and a 52 week high of $43.63. The firm has a market capitalization of $53.60 billion, a price-to-earnings ratio of 5.96, a P/E/G ratio of 0.57 and a beta of 1.33.

General Motors (NYSE:GM – Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, April 25th. The auto manufacturer reported $2.21 EPS for the quarter, topping the consensus estimate of $1.53 by $0.68. The business had revenue of $39.99 billion during the quarter, compared to analysts’ expectations of $39.38 billion. General Motors had a return on equity of 15.74% and a net margin of 5.84%. General Motors’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.09 earnings per share. Research analysts forecast that General Motors will post 6.79 EPS for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, June 2nd were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, June 1st. General Motors’s dividend payout ratio (DPR) is 5.56%.

Insider Buying and Selling

In related news, CFO Paul A. Jacobson acquired 31,000 shares of the company’s stock in a transaction on Friday, May 19th. The shares were purchased at an average price of $32.60 per share, for a total transaction of $1,010,600.00. Following the purchase, the chief financial officer now owns 186,847 shares in the company, valued at $6,091,212.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GM has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on General Motors from $46.00 to $48.00 in a report on Wednesday, April 26th. Barclays dropped their price target on shares of General Motors from $45.00 to $42.00 in a research report on Wednesday, April 26th. Mizuho decreased their price objective on shares of General Motors from $39.00 to $37.00 in a report on Wednesday, April 26th. Citigroup boosted their target price on General Motors from $79.00 to $85.00 in a report on Monday, June 5th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Motors from $37.00 to $35.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.81.

General Motors Profile

(Free Report)

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.