Weaver Capital Management LLC Has $777,000 Position in General Motors (NYSE:GM)

23 Oct 2024, 16:40 by Sarita Garza · The Markets Daily

Weaver Capital Management LLC raised its stake in General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 29.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,323 shares of the auto manufacturer’s stock after buying an additional 3,894 shares during the quarter. Weaver Capital Management LLC’s holdings in General Motors were worth $777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in General Motors in the second quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new stake in General Motors in the second quarter worth approximately $28,000. Fortitude Family Office LLC increased its stake in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the last quarter. Montag A & Associates Inc. bought a new position in shares of General Motors during the 1st quarter valued at $30,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of General Motors in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

General Motors Trading Up 9.8 %

Shares of General Motors stock opened at $53.73 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $61.30 billion, a P/E ratio of 6.57, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. General Motors has a 12-month low of $26.30 and a 12-month high of $54.17. The company has a 50-day simple moving average of $47.33 and a 200 day simple moving average of $46.04.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. During the same quarter last year, the business posted $1.91 earnings per share. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.89%. General Motors’s dividend payout ratio is currently 5.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GM shares. Wells Fargo & Company lowered their target price on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. Wolfe Research started coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price target on shares of General Motors in a report on Wednesday, October 9th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research report on Friday, October 11th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Motors has an average rating of “Hold” and a consensus target price of $55.35.

View Our Latest Stock Analysis on GM

About General Motors

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