McKinney Capital Management LLC Makes New $1.43 Million Investment in General Motors Company $GM

McKinney Capital Management LLC acquired a new position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 18,563 shares of the auto manufacturer’s stock, valued at approximately $1,429,000.

Several other institutional investors have also modified their holdings of the company. Richardson Financial Services Inc. grew its stake in shares of General Motors by 75.7% during the third quarter. Richardson Financial Services Inc. now owns 325 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in General Motors in the second quarter valued at $31,000. Burk Holdings LLC acquired a new stake in General Motors in the second quarter valued at $31,000. Premier Financial Group acquired a new stake in General Motors in the second quarter valued at $31,000. Finally, Elevation Wealth Partners LLC lifted its holdings in General Motors by 70.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 464 shares of the auto manufacturer’s stock worth $36,000 after buying an additional 192 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GM shares. BNP Paribas Exane upped their price objective on General Motors from $102.00 to $112.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Wells Fargo & Company raised their target price on General Motors from $60.00 to $61.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. cut their target price on General Motors from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Royal Bank Of Canada decreased their target price on General Motors from $102.00 to $98.00 and set an “outperform” rating for the company in a research note on Wednesday, October 21st. Finally, Truist Financial set a $105.00 price target on General Motors in a report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $101.44.

Insider Activity

In related news, EVP Rory Harvey sold 16,513 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 12,000 shares in the company, valued at $1,075,680. This trade represents a 57.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.44% of the stock is currently owned by company insiders.

Top General Motors Stories

These are some of the GM stories that stood out recently:

• Positive Sentiment: GM plans to invest $550 million in two Michigan solar projects, which could generate enough annual electricity to power its three Michigan assembly plants. The projects may help make energy costs more predictable and support emissions-reduction goals. Article: GM invests $550M into solar projects to offset factory emissions
• Negative Sentiment: GM warned that some performance all-wheel-drive electric SUVs could suddenly lose brake pressure, raising safety concerns and the possibility of added costs if a remedy is needed. Article: GM warns its performance all-wheel-drive electric SUVs can suddenly lose brake pressure
• Negative Sentiment: Industry data cited in a report put the average new-car monthly payment near $776 in September, the highest since December 2023. Stretched buyer budgets could weigh on vehicle affordability and demand, including for GM. Article: A $776 Car Payment Is a Warning for Ford and General Motors

General Motors Stock Performance

GM traded down $0.29 on Friday, reaching $85.96. The company had a trading volume of 3,377,905 shares, compared to its average volume of 8,864,918. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 1.32. General Motors Company has a 1 year low of $67.06 and a 1 year high of $93.70. The stock has a market capitalization of $72.51 billion, a PE ratio of 19.72, a P/E/G ratio of 0.49 and a beta of 1.40. The stock has a 50-day moving average price of $83.54 and a 200-day moving average price of $80.99.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 20th. The auto manufacturer reported $3.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.01. The company had revenue of $50.02 billion for the quarter, compared to analyst estimates of $48.78 billion. General Motors had a return on equity of 19.36% and a net margin of 2.12%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.80 earnings per share. As a group, research analysts forecast that General Motors Company will post 13.36 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Friday, December 4th will be given 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 dividend yield of 0.8%. General Motors’s dividend payout ratio is 16.51%.

General Motors announced that its board has authorized a stock buyback plan on Tuesday, October 20th that permits the company to repurchase $20 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 27.5% of its shares through open market purchases. Share repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.