Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Stake in General Motors (NYSE:GM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,807 shares of the auto manufacturer’s stock after selling 10,860 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in General Motors were worth $12,455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GM. Thrivent Financial for Lutherans lifted its stake in General Motors by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 52,193 shares of the auto manufacturer’s stock worth $2,340,000 after purchasing an additional 539 shares during the last quarter. Prospera Financial Services Inc lifted its stake in General Motors by 25.7% during the third quarter. Prospera Financial Services Inc now owns 24,891 shares of the auto manufacturer’s stock worth $1,116,000 after purchasing an additional 5,089 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in General Motors during the third quarter worth about $2,730,000. Commerce Bank lifted its stake in General Motors by 7.7% during the third quarter. Commerce Bank now owns 41,143 shares of the auto manufacturer’s stock worth $1,845,000 after purchasing an additional 2,954 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in General Motors by 54.1% during the third quarter. Advisors Asset Management Inc. now owns 7,075 shares of the auto manufacturer’s stock worth $317,000 after purchasing an additional 2,484 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of General Motors stock opened at $49.77 on Friday. The stock’s 50-day simple moving average is $49.02 and its 200-day simple moving average is $50.46. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a market capitalization of $49.53 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

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

General Motors announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.96%. General Motors’s dividend payout ratio (DPR) is 7.80%.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GM shares. Piper Sandler increased their target price on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Mizuho increased their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Wednesday, December 11th. Finally, Cowen began coverage on General Motors in a report on Thursday, March 6th. They set a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.06.

General Motors 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.