Companies

Adalta Capital Management LLC Increases Stake in General Motors

Published December 9, 2024

Adalta Capital Management LLC has significantly increased its investment in General Motors (NYSE:GM - Free Report) during the third quarter of this year. According to a recent filing with the Securities and Exchange Commission (SEC), the firm raised its holdings by an impressive 734.6%, now owning a total of 26,500 shares after acquiring an additional 23,325 shares during the period. As of its latest filing, Adalta Capital Management's stake in General Motors is valued at approximately $1,188,000.

Investor Actions

Other institutional investors have also made notable adjustments to their positions in General Motors recently. For instance, Chicago Partners Investment Group LLC increased its holdings in the company by 15.9%, resulting in ownership of 11,382 shares valued at $510,000 after adding 1,559 shares last quarter. Meanwhile, Donald Smith & Co. Inc. expanded its stake by 12.1%, now holding 1,629,573 shares valued at around $73,070,000 after purchasing 175,860 additional shares. Additionally, Foster & Motley Inc. increased its holdings by an impressive 121.5%, ending the quarter with 47,169 shares worth $2,115,000 after buying 25,869 shares.

Stoneridge Investment Partners LLC also raised its position in General Motors by 115.1%, now owning 178,443 shares valued at $8,001,000 following the acquisition of 95,484 shares. Lastly, Olstein Capital Management L.P. increased its stake by 14.9% during the same period, bringing its total to 162,000 shares worth $7,264,000 after purchasing an additional 21,000 shares. Overall, institutional investors hold approximately 92.67% of General Motors stock.

Analyst Ratings and Price Targets

UBS Group additionally raised its price objective for General Motors from $58.00 to $62.00, assigning a "buy" rating. Currently, four analysts rate the stock as a sell, seven suggest holding, while nine have issued buy ratings, and one analyst gives a strong buy recommendation. According to data from MarketBeat, General Motors has an average price target of $57.74 and a consensus rating of "Hold" among analysts.

Recent Performance and Financials

General Motors' stock opened at $53.41 on a recent Monday. The company has a market capitalization of $58.73 billion, a PE ratio of 5.69, and a beta of 1.42. It has experienced a 52-week low of $32.81 and a high of $61.24. The stock is currently trading above its 50-day moving average of $52.26 and its 200-day moving average of $48.41.

According to its latest quarterly earnings report released on October 22nd, General Motors reported earnings per share (EPS) of $2.96, surpassing the consensus estimate of $2.49 by $0.47. The company recorded revenue of $48.76 billion, higher than the analysts' expectation of $44.67 billion, and experienced a year-over-year revenue growth of 10.5%.

Dividends and Insider Transactions

General Motors has declared a quarterly dividend of $0.12 per share, set to be paid on December 19th to shareholders recorded by December 6th, resulting in an annualized dividend of $0.48 and a yield of 0.90%. Furthermore, CEO Mary T. Barra sold 506,824 shares for approximately $27 million on October 23rd, decreasing her ownership stake significantly. In a separate transaction on November 25th, EVP Rory Harvey sold 8,919 shares for about $535,000.

Overview of General Motors

General Motors (GM) is a leading manufacturer of vehicles, including trucks, cars, and auto parts, and provides various software-enabled services. It operates through different segments such as GM North America, GM International, Cruise, and GM Financial, marketing its vehicles primarily under well-known brand names like Buick, Cadillac, Chevrolet, and GMC.

Acquisition, Investment, Stocks, GeneralMotors