---
title: "Bank of New York Mellon Corp Has $601.73 Million Stock Position in General Motors (NYSE:GM)"
description: "Bank of New York Mellon Corp increased its stake in General Motors (NYSE: GM) by 1.1% during Q2, now owning approximately 12.95 million shares valued at $730 million. Other institutional investors als"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/212581557.md"
published_at: "2024-08-26T20:28:54.000Z"
---

# Bank of New York Mellon Corp Has $601.73 Million Stock Position in General Motors (NYSE:GM)

> Bank of New York Mellon Corp increased its stake in General Motors (NYSE: GM) by 1.1% during Q2, now owning approximately 12.95 million shares valued at $730 million. Other institutional investors also adjusted their positions. CEO Mary T. Barra sold 626,316 shares, while President Mark L. Reuss sold 150,000 shares. Analysts have mixed views, with some downgrading GM’s rating, while the stock is trading around $30.21, up 0.4%.

Bank of New York Mellon Corp grew its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,951,561 shares of the auto manufacturer's stock after purchasing an additional 135,717 shares during the quarter. Bank of New York Mellon Corp owned about 1.14% of General Motors worth $601,730,000 at the end of the most recent quarter.

Get **General Motors** alerts:

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Several other institutional investors have also recently made changes to their positions in GM. RWA Wealth Partners LLC boosted its stake in shares of General Motors by 5.0% during the 4th quarter. RWA Wealth Partners LLC now owns 6,740 shares of the auto manufacturer's stock worth $242,000 after acquiring an additional 319 shares during the period. GAMMA Investing LLC bought a new stake in General Motors in the 4th quarter valued at $285,000. Wolverine Asset Management LLC bought a new stake in General Motors in the 4th quarter valued at $898,000. Bfsg LLC bought a new stake in General Motors in the 4th quarter valued at $35,000. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in General Motors by 6.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 31,311 shares of the auto manufacturer's stock valued at $1,125,000 after purchasing an additional 1,818 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

## Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares of the company's stock, valued at $52,093,242.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of the company's stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the transaction, the chief executive officer now owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the sale, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,152,621 shares of company stock worth $51,818,111. Corporate insiders own 0.72% of the company's stock.

## Wall Street Analysts Forecast Growth

-   Mobileye Global: CEO Makes $10 Million Bet on Future Strength

Several research firms recently issued reports on GM. StockNews.com downgraded General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, July 24th. Nomura downgraded General Motors from a "neutral" rating to a "reduce" rating and set a $34.00 price target for the company. in a research note on Monday, August 5th. Royal Bank of Canada cut their target price on General Motors from $58.00 to $54.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. Nomura Securities upgraded General Motors to a "strong sell" rating in a research report on Monday, August 5th. Finally, UBS Group upped their target price on General Motors from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, General Motors has a consensus rating of "Moderate Buy" and an average price target of $55.17.

**View Our Latest Report on GM**

## General Motors Trading Up 0.4 %

-   Ford Stock EPS Disappoints, Shares Plummet After-Hours

Shares of GM stock traded up $0.21 on Monday, hitting $48.78. The company had a trading volume of 6,171,697 shares, compared to its average volume of 15,605,670. The stock's 50-day moving average is $45.91 and its two-hundred day moving average is $44.12. The firm has a market cap of $55.66 billion, a P/E ratio of 5.95, a P/E/G ratio of 0.44 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 earnings per share. On average, equities research analysts anticipate that General Motors will post 9.94 earnings per share for the current fiscal year.

General Motors declared that its board has approved a stock repurchase plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its shares are undervalued.

## General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 0.98%. General Motors's payout ratio is currently 5.87%.

## General Motors Company Profile

(Free Report)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.

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**Want to see what other hedge funds are holding GM?** Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM - Free Report) TSE: GMM.U.

*This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.*

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
