CenterBook Partners LP Purchases New Stake in General Motors Company $GM

CenterBook Partners LP bought a new stake in General Motors Company (NYSE:GM) (TSE:GMM.U) in the third quarter, Holdings Channel reports. The institutional investor bought 110,087 shares of the auto manufacturer’s stock, valued at approximately $8,477,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of General Motors during the 2nd quarter worth about $5,958,995,000. Dimensional Fund Advisors LP increased its stake in General Motors by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 14,225,518 shares of the auto manufacturer’s stock valued at $1,059,668,000 after acquiring an additional 77,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in General Motors by 1.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,559,990 shares of the auto manufacturer’s stock worth $659,804,000 after purchasing an additional 101,885 shares in the last quarter. Bank of America Corp DE acquired a new position in General Motors in the second quarter worth about $629,465,000. Finally, Legal & General Group Plc acquired a new position in General Motors in the second quarter worth about $599,066,000. Institutional investors own 92.67% of the company’s stock.

Key General Motors News

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

• Positive Sentiment: Higher long-term earnings forecasts: Zacks Research raised its estimates for GM’s 2027 and 2028 earnings, including its FY2028 EPS forecast to $15.10 from $12.70. Zacks Research earnings forecast
• Positive Sentiment: Domestic battery-materials exposure: GM holds a 38% stake in Nevada’s Thacker Pass lithium project, which could support its longer-term EV battery supply chain. GM’s Thacker Pass stake
• Neutral Sentiment: Executive share sale: EVP Rory Harvey sold 16,513 shares under a pre-arranged Rule 10b5-1 plan, reducing his direct holding by 57.9%. The planned nature of the transaction makes it a less clear signal about his outlook. SEC filing
• Negative Sentiment: EV braking recall: GM is recalling about 67,000 Chevrolet and Cadillac EVs over a software issue that could cause loss of braking. An over-the-air fix may limit repair costs, but the safety risk and added scrutiny are concerns. EV braking recall
• Negative Sentiment: Further recall and legal overhangs: Reports describe additional recalls affecting more than 80,000 vehicles, while GM recently agreed to a $220 million settlement with 36 states over allegations involving driver-data practices. Additional vehicle recalls Driver-data settlement
• Negative Sentiment: Costs and product uncertainty: Automakers face higher material, logistics, and memory costs as pricing power weakens. Separately, a report says GM has dropped a planned electric Corvette SUV, raising questions about its EV product strategy. Automaker cost pressures Electric Corvette SUV report

Analyst Ratings Changes

GM has been the subject of several analyst reports. Wall Street Zen downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Saturday. Benchmark reiterated a “buy” rating and set a $105.00 price objective (up from $90.00) on shares of General Motors in a research note on Tuesday, July 21st. Tigress Financial lifted their price objective on General Motors from $130.00 to $132.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 28th. Weiss Ratings upgraded shares of General Motors from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Finally, The Goldman Sachs Group lowered their target price on shares of General Motors from $112.00 to $96.00 and set a “buy” rating on the stock in a report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $101.44.

General Motors Price Performance

Shares of GM traded down $3.09 on Friday, hitting $86.24. The company’s stock had a trading volume of 9,045,294 shares, compared to its average volume of 8,390,107. The company has a market capitalization of $72.75 billion, a PE ratio of 19.78, a PEG ratio of 0.51 and a beta of 1.40. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.09 and a quick ratio of 0.94. General Motors Company has a fifty-two week low of $67.06 and a fifty-two week high of $93.70. The company has a 50 day moving average price of $83.35 and a 200 day moving average price of $80.83.

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, topping analysts’ consensus estimates of $3.69 by $0.01. General Motors had a return on equity of 19.36% and a net margin of 2.12%. The business had revenue of $50.02 billion for the quarter, compared to analyst estimates of $48.78 billion. During the same period in the prior year, the company earned $2.80 EPS. General Motors’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts anticipate that General Motors Company will post 13.37 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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

General Motors declared that its Board of Directors has initiated a stock buyback program on Tuesday, October 20th that authorizes the company to buy back $20 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 27.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 16,513 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $89.64, for a total transaction of $1,480,225.32. Following the sale, the executive vice president owned 12,000 shares in the company, valued at approximately $1,075,680. This represents a 57.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.44% of the company’s stock.

General Motors Profile

General Motors Company designs, manufactures and sells cars, trucks, crossovers and sport utility vehicles. Its vehicle brands include Chevrolet, Buick, GMC and Cadillac, and its offerings also include vehicle parts, software and related services. GM Financial provides automotive financing and leasing products to customers and dealers.

Founded in 1908, General Motors is headquartered in Detroit, Michigan. The company serves customers in North America and international markets, with operations and sales spanning multiple regions.

Mary Barra has served as GM’s chief executive officer since 2014.