South Dakota Investment Council Boosts Stock Position in General Motors (NYSE:GM)

South Dakota Investment Council grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,053 shares of the auto manufacturer’s stock after acquiring an additional 5,500 shares during the period. South Dakota Investment Council’s holdings in General Motors were worth $3,199,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GM. SouthState Corp lifted its position in shares of General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares in the last quarter. Highlander Capital Management LLC purchased a new stake in shares of General Motors during the fourth quarter worth $27,000. BluePath Capital Management LLC purchased a new stake in shares of General Motors during the third quarter worth $33,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of General Motors during the fourth quarter worth $36,000. Finally, Venturi Wealth Management LLC lifted its position in shares of General Motors by 74.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,229 shares of the auto manufacturer’s stock worth $44,000 after acquiring an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

GM stock opened at $45.07 on Thursday. The stock has a market capitalization of $52.03 billion, a PE ratio of 5.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The stock’s 50 day simple moving average is $42.00 and its 200 day simple moving average is $36.12.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.21 EPS. As a group, research analysts forecast that General Motors will post 9.26 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.07%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Ratings Changes

Several research firms have issued reports on GM. Sanford C. Bernstein began coverage on General Motors in a research report on Thursday. They set an “outperform” rating and a $55.00 target price on the stock. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Tigress Financial increased their price objective on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft increased their price objective on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.38.

Insider Activity at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the SEC, which is available through this link. In other General Motors news, EVP Gerald Johnson sold 15,190 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the sale, the executive vice president now directly owns 98,628 shares in the company, valued at approximately $3,948,078.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is 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.