New York State Teachers Retirement System decreased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,155,671 shares of the auto manufacturer’s stock after selling 14,290 shares during the period. New York State Teachers Retirement System’s holdings in General Motors were worth $79,975,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in GM. Signet Investment Advisory Group Inc. acquired a new position in shares of General Motors in the 4th quarter worth approximately $26,000. Cornerstone Advisors Inc. grew its stake in shares of General Motors by 63.0% in the 4th quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 346 shares during the last quarter. NuWave Investment Management LLC grew its stake in shares of General Motors by 198.6% in the 4th quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 588 shares during the last quarter. Liberty Wealth Management LLC acquired a new position in shares of General Motors in the 4th quarter worth approximately $30,000. Finally, Advisors Preferred LLC acquired a new position in shares of General Motors in the 4th quarter worth approximately $31,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.
GM has been the topic of several recent research reports. Royal Bank of Canada lifted their price objective on shares of General Motors from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 7th. Citigroup lifted their price objective on shares of General Motors to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 8th. Zacks Investment Research cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of General Motors in a research note on Tuesday, March 26th. Finally, Seaport Global Securities initiated coverage on shares of General Motors in a research note on Wednesday, February 13th. They issued a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $47.60.
Shares of GM opened at $37.38 on Friday. General Motors has a one year low of $30.56 and a one year high of $45.00. The stock has a market capitalization of $53.01 billion, a price-to-earnings ratio of 5.72, a PEG ratio of 0.64 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 1.65.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 30th. The auto manufacturer reported $1.41 EPS for the quarter, topping the consensus estimate of $1.09 by $0.32. General Motors had a net margin of 6.26% and a return on equity of 22.67%. The company had revenue of $34.88 billion during the quarter, compared to analysts’ expectations of $35.56 billion. During the same period last year, the company posted $1.43 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, analysts anticipate that General Motors will post 6.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, June 6th. General Motors’s payout ratio is 23.24%.
In related news, VP Christopher Hatto sold 8,499 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $40.00, for a total transaction of $339,960.00. Following the completion of the sale, the vice president now directly owns 10,040 shares in the company, valued at $401,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Dhivya Suryadevara sold 34,756 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.40, for a total transaction of $1,299,874.40. Following the sale, the chief financial officer now owns 10,741 shares of the company’s stock, valued at $401,713.40. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
General Motors Company Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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