General Motors (NYSE:GM) Stock Holdings Lowered by State of Michigan Retirement System

State of Michigan Retirement System cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 444,508 shares of the auto manufacturer’s stock after selling 3,300 shares during the quarter. State of Michigan Retirement System’s holdings in General Motors were worth $23,679,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GM. Blue Trust Inc. increased its holdings in shares of General Motors by 19.7% during the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after purchasing an additional 1,510 shares during the period. Chicago Partners Investment Group LLC increased its stake in General Motors by 15.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after buying an additional 1,559 shares during the period. Foster & Motley Inc. raised its position in shares of General Motors by 121.5% during the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after buying an additional 25,869 shares in the last quarter. Stoneridge Investment Partners LLC lifted its stake in shares of General Motors by 115.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after acquiring an additional 95,484 shares during the period. Finally, SYM FINANCIAL Corp bought a new position in shares of General Motors in the fourth quarter valued at approximately $474,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Trading Down 4.2 %

NYSE:GM opened at $45.39 on Wednesday. The stock’s 50-day moving average is $50.08 and its two-hundred day moving average is $50.47. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market cap of $45.17 billion, a PE ratio of 7.38, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, equities research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has authorized a share repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. General Motors’s payout ratio is 7.80%.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Mizuho upped their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research report on Wednesday, December 11th. Finally, UBS Group reaffirmed a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $59.71.

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.