General Motors (NYSE:GM) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 2.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 764,998 shares of the auto manufacturer’s stock after selling 19,206 shares during the period. State of New Jersey Common Pension Fund D’s holdings in General Motors were worth $27,479,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SouthState Corp increased its stake in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares during the last quarter. Highlander Capital Management LLC acquired a new position in shares of General Motors in the fourth quarter worth $27,000. BluePath Capital Management LLC acquired a new position in shares of General Motors in the third quarter worth $33,000. Bfsg LLC acquired a new position in shares of General Motors in the fourth quarter worth $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in General Motors during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 0.4 %

Shares of NYSE GM traded up $0.20 during midday trading on Friday, reaching $45.82. 12,149,767 shares of the stock were exchanged, compared to its average volume of 17,458,105. The business has a 50-day simple moving average of $42.13 and a two-hundred day simple moving average of $36.19. The company has a market capitalization of $52.28 billion, a price-to-earnings ratio of 5.60, a P/E/G ratio of 0.52 and a beta of 1.51. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $2.21 earnings per share. As a group, equities research analysts expect that General Motors will post 9.44 EPS for the current year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.05%. General Motors’s dividend payout ratio is currently 5.87%.

Wall Street Analysts Forecast Growth

Several research firms have commented on GM. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Sanford C. Bernstein started coverage on shares of General Motors in a report on Thursday. They set an “outperform” rating and a $55.00 price target for the company. UBS Group increased their target price on shares of General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday. Wedbush increased their target price on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.65.

Insider Activity at General Motors

In related news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares in the company, valued at $3,236,361.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by corporate insiders.

General Motors Company Profile

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.