California State Teachers Retirement System lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,373,615 shares of the auto manufacturer’s stock after selling 243,210 shares during the quarter. California State Teachers Retirement System owned about 0.17% of General Motors worth $95,847,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. Berkshire Hathaway Inc. raised its position in shares of General Motors by 20.0% during the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after acquiring an additional 10,000,000 shares during the last quarter. Swiss National Bank raised its position in shares of General Motors by 1.2% during the second quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock worth $172,060,000 after acquiring an additional 56,500 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of General Motors by 0.4% during the second quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock worth $28,839,000 after acquiring an additional 3,298 shares during the last quarter. Intrust Bank NA raised its position in shares of General Motors by 0.3% during the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after acquiring an additional 25 shares during the last quarter. Finally, Commonwealth Bank of Australia raised its position in shares of General Motors by 12.5% during the second quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock worth $25,819,000 after acquiring an additional 82,201 shares during the last quarter. 73.06% of the stock is currently owned by institutional investors.
Shares of General Motors (NYSE GM) opened at $41.53 on Wednesday. General Motors has a fifty-two week low of $31.92 and a fifty-two week high of $46.76. The stock has a market capitalization of $59,188.40, a PE ratio of 6.73, a price-to-earnings-growth ratio of 0.72 and a beta of 1.54. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The company had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. During the same period in the prior year, the company earned $1.72 earnings per share. The company’s revenue for the quarter was down 16.6% compared to the same quarter last year. sell-side analysts predict that General Motors will post 6.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be issued a $0.38 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.66%. General Motors’s dividend payout ratio (DPR) is currently 77.95%.
A number of equities research analysts have recently weighed in on GM shares. Deutsche Bank restated a “buy” rating on shares of General Motors in a research report on Friday, November 17th. Piper Jaffray Companies restated a “buy” rating and set a $44.00 target price on shares of General Motors in a research report on Tuesday, September 12th. Goldman Sachs Group downgraded General Motors from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $43.16 to $32.00 in a research report on Monday, October 30th. Royal Bank of Canada boosted their target price on General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 25th. Finally, Barclays upgraded General Motors from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $55.00 in a research report on Friday, October 13th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.70.
In other news, insider Alicia S. Boler-Davis sold 10,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $40.90, for a total transaction of $409,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Barry L. Engle II sold 50,443 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $43.08, for a total value of $2,173,084.44. Following the transaction, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,459,480.28. The disclosure for this sale can be found here. Insiders sold 775,252 shares of company stock valued at $33,616,642 over the last 90 days. Corporate insiders own 0.04% of the company’s stock.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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