New York State Common Retirement Fund Sells 156,166 Shares of General Motors (NYSE:GM)

New York State Common Retirement Fund cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 7.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,993,596 shares of the auto manufacturer’s stock after selling 156,166 shares during the period. New York State Common Retirement Fund owned 0.15% of General Motors worth $71,610,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Highlander Capital Management LLC acquired a new stake in General Motors during the 4th quarter valued at approximately $27,000. SouthState Corp lifted its stake in General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in General Motors during the 4th quarter valued at approximately $36,000. BluePath Capital Management LLC acquired a new stake in General Motors during the 3rd quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of General Motors by 74.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,229 shares of the auto manufacturer’s stock valued at $44,000 after purchasing an additional 525 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GM. Redburn Atlantic began coverage on shares of General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target for the company. Mizuho upped their target price on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush boosted their price target on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler started coverage on shares of General Motors in a research report on Friday, March 15th. They set a “neutral” rating and a $44.00 price target on the stock. Finally, Barclays boosted their price target on shares of General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors has an average rating of “Moderate Buy” and an average price target of $53.29.

Insider Buying and Selling

In related news, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,248 shares of company stock worth $3,614,078. Company insiders own 0.54% of the company’s stock.

General Motors Stock Up 4.4 %

Shares of NYSE:GM opened at $45.10 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market capitalization of $52.06 billion, a PE ratio of 6.17, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51. The firm’s 50-day moving average is $41.86 and its two-hundred day moving average is $36.06. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.21 earnings per share. Analysts predict that General Motors will post 9.12 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

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.