Municipal Employees Retirement System of Michigan trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 27.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,880 shares of the auto manufacturer’s stock after selling 12,600 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in General Motors were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Icon Wealth Partners LLC bought a new position in shares of General Motors during the fourth quarter worth about $106,000. Fieldpoint Private Securities LLC bought a new position in shares of General Motors during the third quarter worth about $119,000. Cerebellum GP LLC bought a new position in shares of General Motors during the fourth quarter worth about $123,000. Independence Bank of Kentucky bought a new position in shares of General Motors during the fourth quarter worth about $129,000. Finally, Stumpf Capital Management LLC bought a new position in shares of General Motors during the fourth quarter worth about $131,000. Institutional investors own 73.54% of the company’s stock.
GM has been the subject of a number of analyst reports. Vetr downgraded General Motors from a “strong-buy” rating to a “hold” rating and set a $43.99 price objective for the company. in a research report on Monday, December 4th. Royal Bank of Canada upgraded General Motors from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $51.00 to $52.00 in a report on Tuesday, December 19th. Barclays reiterated a “buy” rating and issued a $61.00 target price on shares of General Motors in a report on Tuesday, January 9th. Evercore ISI lifted their target price on General Motors from $40.00 to $41.38 in a report on Friday, December 29th. Finally, Goldman Sachs set a $33.00 target price on General Motors and gave the stock a “sell” rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. General Motors currently has a consensus rating of “Buy” and an average price target of $44.79.
Shares of General Motors stock opened at $37.94 on Monday. The company has a market capitalization of $53,231.45, a P/E ratio of -13.13, a PEG ratio of 0.73 and a beta of 1.60. General Motors has a 1-year low of $31.92 and a 1-year high of $46.76. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 1.86.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.31. The firm had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $34.28 billion. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.28 earnings per share. sell-side analysts expect that General Motors will post 6.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.52 annualized dividend and a dividend yield of 4.01%. General Motors’s dividend payout ratio is -52.59%.
In related news, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of General Motors stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $39.71, for a total transaction of $1,588,400,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark L. Reuss sold 30,000 shares of General Motors stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $43.09, for a total value of $1,292,700.00. Following the transaction, the insider now directly owns 103,052 shares in the company, valued at approximately $4,440,510.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,289,848 shares of company stock valued at $1,600,694,061. Corporate insiders own 0.04% of the company’s stock.
General Motors Company Profile
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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