Public Employees Retirement System of Ohio Has $30.88 Million Stake in General Motors (NYSE:GM)

Public Employees Retirement System of Ohio decreased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 19.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 681,001 shares of the auto manufacturer’s stock after selling 164,121 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.06% of General Motors worth $30,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of GM. Traynor Capital Management Inc. acquired a new stake in General Motors in the 4th quarter valued at $207,000. Blue Trust Inc. lifted its stake in General Motors by 135.3% during the 4th quarter. Blue Trust Inc. now owns 1,412 shares of the auto manufacturer’s stock valued at $47,000 after acquiring an additional 812 shares in the last quarter. Global Retirement Partners LLC lifted its stake in General Motors by 13.4% during the 4th quarter. Global Retirement Partners LLC now owns 6,334 shares of the auto manufacturer’s stock valued at $224,000 after acquiring an additional 748 shares in the last quarter. Gradient Investments LLC lifted its stake in General Motors by 54.1% during the 4th quarter. Gradient Investments LLC now owns 2,719 shares of the auto manufacturer’s stock valued at $98,000 after acquiring an additional 955 shares in the last quarter. Finally, Abacus Planning Group Inc. lifted its stake in General Motors by 91.4% during the 4th quarter. Abacus Planning Group Inc. now owns 12,291 shares of the auto manufacturer’s stock valued at $442,000 after acquiring an additional 5,869 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GM. Wells Fargo & Company raised their price objective on General Motors from $32.00 to $34.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Barclays lifted their target price on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Royal Bank of Canada lifted their target price on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Wedbush reiterated an “outperform” rating and set a $55.00 target price on shares of General Motors in a research note on Wednesday, July 24th. Finally, Mizuho lifted their target price on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, General Motors has an average rating of “Moderate Buy” and a consensus target price of $56.38.

Insider Buying and Selling at General Motors

In other General Motors news, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the sale, the president now owns 162,049 shares in the company, valued at $7,455,874.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Mark L. Reuss sold 14,858 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $46.01, for a total value of $683,616.58. Following the transaction, the president now owns 162,049 shares of the company’s stock, valued at approximately $7,455,874.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is currently owned by insiders.

General Motors Stock Performance

Shares of NYSE GM remained flat at $44.12 during midday trading on Monday. The stock had a trading volume of 8,865,385 shares, compared to its average volume of 15,971,448. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $49.59 billion, a P/E ratio of 5.40, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43. The firm has a 50-day moving average price of $46.49 and a two-hundred day moving average price of $43.06.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.91 earnings per share. Equities analysts expect that General Motors will post 9.93 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a $0.12 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 1.09%. General Motors’s payout ratio is currently 5.87%.

General Motors declared that its Board of Directors has approved a share repurchase plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.