New Mexico Educational Retirement Board Decreases Stake in General Motors (NYSE:GM)

New Mexico Educational Retirement Board lowered its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 53,600 shares of the auto manufacturer’s stock after selling 2,200 shares during the period. New Mexico Educational Retirement Board’s holdings in General Motors were worth $2,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of General Motors in the fourth quarter worth $25,000. Crews Bank & Trust acquired a new stake in shares of General Motors in the fourth quarter worth $26,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors in the third quarter worth $27,000. Truvestments Capital LLC acquired a new stake in shares of General Motors in the third quarter worth $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in General Motors during the fourth quarter valued at $28,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the topic of several analyst reports. Barclays raised their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on shares of General Motors from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. HSBC lowered 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. Royal Bank of Canada raised their price target on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $59.71.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction 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. This trade represents a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

General Motors Stock Performance

NYSE:GM opened at $48.33 on Friday. The company’s 50-day moving average price is $51.16 and its 200-day moving average price is $49.98. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a market cap of $48.09 billion, a P/E ratio of 7.86, a P/E/G ratio of 0.68 and a beta of 1.40. General Motors has a twelve month low of $38.13 and a twelve month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping 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%. On average, sell-side analysts forecast that General Motors will post 11.28 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

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.