Dakota Wealth Management Reduces Holdings in General Motors

Dakota Wealth Management has reduced its investment in General Motors (NYSE:GM) by 2.7% during the third quarter, according to a report from Holdings Channel.com. The firm owned 76,690 shares of General Motors after selling 2,109 shares in the quarter. The current value of Dakota Wealth Management's holdings in General Motors stands at approximately $3,439,000, based on their latest SEC filing.

In addition to Dakota Wealth Management, various other institutional investors have also adjusted their stakes in General Motors. Assenagon Asset Management S.A. saw a significant increase of 86.9% in its holdings, acquiring an additional 264,880 shares and totaling 569,633 shares worth $25,542,000. Similarly, International Assets Investment Management LLC dramatically increased its position by 4,826.5%, now owning 549,261 shares valued at $24,629,000 after purchasing 538,112 shares during the same period.

Guidance Capital Inc. raised its stake in General Motors by 5.1%, holding 20,107 shares worth $989,000 after buying an extra 971 shares. Commerzbank Aktiengesellschaft FI also increased its holdings by 29.1%, now owning 8,162 shares valued at $366,000 following an acquisition of 1,838 shares. Additionally, Plan Group Financial LLC established a new stake worth approximately $353,000 in General Motors during the third quarter.

General Motors Stock Performance

As of Friday, General Motors shares opened at $52.07. The stock has experienced a 52-week range with a low of $26.30 and a high of $54.29. The company’s market capitalization is about $59.41 billion, showing a PE ratio of 6.37 and a beta of 1.42. General Motors has a debt-to-equity ratio of 1.23, a current ratio of 1.18, and a quick ratio of 0.99, with a fifty-day moving average price of $47.68 and a two-hundred-day average of $46.13.

In its latest earnings report announced on October 22nd, General Motors revealed earnings of $2.96 per share, exceeding analysts’ expectations of $2.49 by $0.47. The company reported a net margin of 6.22% and a return on equity of 15.77%. General Motors' revenue reached $48.76 billion in the quarter, surpassing analyst estimates of $44.67 billion and representing a 10.5% year-over-year increase.

Dividend Announcement

The company also declared a quarterly dividend, scheduled for payment on December 19th. Shareholders recorded by December 6th will receive a dividend of $0.12. This translates to an annual dividend amounting to $0.48, offering a yield of 0.92%. General Motors operates with a payout ratio of 5.87%.

Insider Trading Activities

In related developments, General Motors' executive vice president, Rory Harvey, sold 2,302 shares of stock on August 23rd at an average price of $47.31, accumulating a total value of $108,907.62. After the sale, he retains direct ownership of 10,356 shares valued at approximately $489,942.36. Additionally, on October 23rd, CEO Mary T. Barra sold 506,824 shares at an average price of $53.33, amounting to a significant transaction of about $27.03 million. Following this transaction, she owns 694,548 shares valued at $37,040,244.84.

Market Analysts' Predictions

A number of analysts have recently shared their insights regarding General Motors' stock. Royal Bank of Canada upgraded their target price from $58.00 to $65.00, rating the stock as “outperform.” Meanwhile, Morgan Stanley downgraded its rating from “equal weight” to “underweight” and cut its price target from $47.00 to $42.00. Analysts from Sanford C. Bernstein boosted the price target from $53.00 to $55.00 and provided a “market perform” rating.

Barclays also raised its price objective from $64.00 to $70.00 and rated the stock as “overweight.” Wedbush adjusted their target price upward from $55.00 to $60.00, issuing an “outperform” rating. Currently, the consensus among analysts shows four “sell” ratings, seven “hold” ratings, ten “buy” ratings, and one “strong buy.” General Motors has an average price target of $56.92 according to MarketBeat.com.

Overview of General Motors

General Motors Company designs, manufactures, and sells various vehicles—trucks, crossovers, cars—along with automobile parts and offers software-enabled services globally. It operates under several segments, including GM North America, GM International, Cruise, and GM Financial, marketing vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brands.

Dakota, Wealth, General Motors