Retirement Systems of Alabama Trims Stake in General Motors (NYSE:GM)

Retirement Systems of Alabama cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,316,034 shares of the auto manufacturer’s stock after selling 24,120 shares during the period. Retirement Systems of Alabama’s holdings in General Motors were worth $59,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GM. Oddo BHF Asset Management Sas purchased a new position in shares of General Motors during the 3rd quarter valued at about $1,633,000. Synovus Financial Corp raised its stake in General Motors by 125.0% during the 3rd quarter. Synovus Financial Corp now owns 45,803 shares of the auto manufacturer’s stock worth $2,054,000 after acquiring an additional 25,443 shares during the period. Tidal Investments LLC lifted its holdings in General Motors by 44.7% during the third quarter. Tidal Investments LLC now owns 65,389 shares of the auto manufacturer’s stock valued at $2,932,000 after purchasing an additional 20,206 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of General Motors in the third quarter worth approximately $1,907,000. Finally, World Investment Advisors LLC purchased a new stake in shares of General Motors in the third quarter worth $237,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. Wolfe Research assumed coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. UBS Group boosted their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.85.

General Motors Trading Down 0.2 %

Shares of General Motors stock traded down $0.12 on Friday, reaching $52.18. The company had a trading volume of 282,457 shares, compared to its average volume of 14,689,510. The firm’s 50-day moving average price is $52.86 and its two-hundred day moving average price is $48.58. General Motors has a 1 year low of $34.32 and a 1 year high of $61.24. The firm has a market cap of $57.38 billion, a price-to-earnings ratio of 5.58, a P/E/G ratio of 0.39 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.28 earnings per share. As a group, research analysts predict that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock worth $56,509,286 in the last 90 days. 0.72% of the stock is owned by corporate insiders.

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.