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

New York State Common Retirement Fund reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 owned approximately 0.13% of General Motors worth $67,538,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. GHP Investment Advisors Inc. lifted its position in General Motors by 35.6% during the third quarter. GHP Investment Advisors Inc. now owns 1,827 shares of the auto manufacturer’s stock valued at $82,000 after buying an additional 480 shares in the last quarter. ACR Alpine Capital Research LLC lifted its holdings in shares of General Motors by 8.4% during the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after acquiring an additional 492,693 shares in the last quarter. BDF Gestion purchased a new stake in General Motors during the 2nd quarter worth $2,886,000. Donald Smith & CO. Inc. increased its holdings in General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after purchasing an additional 175,860 shares in the last quarter. Finally, Atomi Financial Group Inc. purchased a new position in General Motors in the first quarter valued at about $244,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other General Motors news, 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 value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 506,824 shares of the firm’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 transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 531,228 shares of company stock worth $28,267,714 in the last 90 days. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research report on Monday, August 5th. Wells Fargo & Company upped their price target on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein upped their target price on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Finally, StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Four equities 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’s stock. According to data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Stock Performance

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

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

General Motors Dividend Announcement

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

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.