New York State Common Retirement Fund Has $71.61 Million Holdings in General Motors (NYSE:GM)

New York State Common Retirement Fund reduced its position in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 7.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,993,596 shares of the auto manufacturer’s stock after selling 156,166 shares during the quarter. New York State Common Retirement Fund’s holdings in General Motors were worth $71,610,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GM. Acadian Asset Management LLC boosted its stake in shares of General Motors by 454.3% during the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after acquiring an additional 4,275,293 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of General Motors by 32.6% during the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after acquiring an additional 2,049,412 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of General Motors by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after acquiring an additional 1,580,681 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of General Motors by 518.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,274,574 shares of the auto manufacturer’s stock worth $42,023,000 after acquiring an additional 1,068,474 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in General Motors by 175.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,615,483 shares of the auto manufacturer’s stock valued at $53,262,000 after purchasing an additional 1,028,508 shares during the period. Institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,248 shares of company stock valued at $3,614,078. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GM shares. Royal Bank of Canada increased their target price on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday. Barclays increased their target price on General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Wells Fargo & Company increased their target price on General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Wednesday, January 31st. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Thursday, January 4th. Finally, Tigress Financial increased their target price on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.29.

Read Our Latest Stock Analysis on GM

General Motors Price Performance

Shares of GM stock opened at $45.10 on Wednesday. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The stock has a 50 day moving average of $41.86 and a two-hundred day moving average of $36.06. The company has a market capitalization of $52.06 billion, a P/E ratio of 6.17, a P/E/G ratio of 0.51 and a beta of 1.51.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its 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. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the prior year, the firm posted $2.21 EPS. General Motors’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that General Motors will post 9.12 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. General Motors’s payout ratio is presently 6.57%.

General Motors Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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