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

State of New Jersey Common Pension Fund D trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 owned about 0.07% of General Motors worth $27,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GM. Handelsbanken Fonder AB boosted its position in General Motors by 18.5% during the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after purchasing an additional 74,194 shares in the last quarter. Cerity Partners LLC boosted its position in General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after purchasing an additional 93,754 shares in the last quarter. Foundry Partners LLC lifted its position in shares of General Motors by 15.0% in the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock valued at $12,992,000 after acquiring an additional 51,336 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of General Motors by 10.5% in the third quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock valued at $4,859,000 after acquiring an additional 14,002 shares in the last quarter. Finally, AM Squared Ltd lifted its position in shares of General Motors by 195.0% in the fourth quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after acquiring an additional 27,300 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Up 0.4 %

NYSE:GM traded up $0.20 during midday trading on Friday, reaching $45.82. The company had a trading volume of 12,149,767 shares, compared to its average volume of 17,458,105. The firm has a market capitalization of $52.28 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.52 and a beta of 1.51. The stock’s fifty day simple moving average is $42.13 and its 200-day simple moving average is $36.19. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same period in the previous year, the business earned $2.21 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared 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. This represents a $0.48 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GM shares. Citigroup raised their target price on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Thursday, January 4th. Redburn Atlantic assumed coverage on General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target for the company. Wells Fargo & Company raised their target price on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.65.

Insider Activity

In other news, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Rory Harvey sold 5,100 shares of General Motors stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the transaction, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at $544,800.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 in the last three months. 0.54% of the stock is currently owned by company insiders.

About General Motors

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.