General Motors (NYSE:GM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 9.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,506,201 shares of the auto manufacturer’s stock after selling 151,659 shares during the period. New York State Common Retirement Fund’s holdings in General Motors were worth $67,538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GM. Strategic Investment Solutions Inc. IL bought a new position in General Motors during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the second quarter worth about $28,000. Fortitude Family Office LLC grew its holdings in General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the period. Montag A & Associates Inc. acquired a new stake in General Motors in the 1st quarter valued at about $30,000. Finally, EdgeRock Capital LLC bought a new position in shares of General Motors during the 2nd quarter valued at about $33,000. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GM has been the subject of several recent research reports. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Wolfe Research began coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. The Goldman Sachs Group upped their target price on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein lifted their price target on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Trading Up 0.4 %

Shares of NYSE:GM opened at $50.96 on Friday. The firm has a fifty day moving average of $48.31 and a two-hundred day moving average of $46.46. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 12-month low of $26.30 and a 12-month high of $54.29. The firm has a market capitalization of $56.04 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the firm earned $2.28 earnings per share. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts expect that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.94%. General Motors’s dividend payout ratio is currently 5.12%.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 531,228 shares of company stock valued at $28,267,714. 0.72% of the stock is currently owned by corporate insiders.

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.