New Mexico Educational Retirement Board lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,500 shares of the auto manufacturer’s stock after selling 2,200 shares during the period. New Mexico Educational Retirement Board’s holdings in General Motors were worth $4,062,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Signet Investment Advisory Group Inc. bought a new stake in shares of General Motors during the fourth quarter valued at approximately $26,000. Cornerstone Advisors Inc. raised its stake in General Motors by 63.0% in the fourth quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 346 shares in the last quarter. NuWave Investment Management LLC raised its stake in General Motors by 198.6% in the fourth quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 588 shares in the last quarter. Liberty Wealth Management LLC bought a new position in General Motors in the fourth quarter worth approximately $30,000. Finally, Advisors Preferred LLC bought a new position in General Motors in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 77.58% of the company’s stock.
In other General Motors news, VP Christopher Hatto sold 8,499 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $40.00, for a total value of $339,960.00. Following the sale, the vice president now directly owns 10,040 shares of the company’s stock, valued at $401,600. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alan S. Batey sold 70,266 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $38.39, for a total transaction of $2,697,511.74. Following the completion of the sale, the insider now directly owns 205,906 shares in the company, valued at $7,904,731.34. The disclosure for this sale can be found here. Insiders have sold 113,521 shares of company stock worth $4,337,346 over the last three months. Corporate insiders own 0.39% of the company’s stock.
Shares of GM opened at $39.66 on Wednesday. The firm has a market cap of $55.77 billion, a PE ratio of 6.06, a P/E/G ratio of 0.69 and a beta of 1.27. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.80 and a current ratio of 0.92. General Motors has a 1-year low of $30.56 and a 1-year high of $45.00.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Wednesday, February 6th. The auto manufacturer reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The firm had revenue of $38.40 billion for the quarter, compared to analyst estimates of $36.31 billion. General Motors had a net margin of 5.45% and a return on equity of 23.99%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 earnings per share. Sell-side analysts anticipate that General Motors will post 6.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Thursday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 23.24%.
A number of brokerages have recently issued reports on GM. Goldman Sachs Group reaffirmed a “neutral” rating and set a $36.00 price target on shares of General Motors in a research report on Tuesday, March 26th. Zacks Investment Research downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 10th. BMO Capital Markets upped their price target on General Motors from $41.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, January 14th. Barclays reaffirmed a “buy” rating and set a $49.00 price target on shares of General Motors in a research report on Monday, January 14th. Finally, Buckingham Research set a $34.00 price target on General Motors and gave the stock a “hold” rating in a research report on Friday, January 11th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $47.20.
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General Motors Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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