New York State Common Retirement Fund Sells 20,000 Shares of General Motors (NYSE:GM)

New York State Common Retirement Fund decreased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.3% in the fourth quarter, Holdings Channel reports. The firm owned 1,486,201 shares of the auto manufacturer’s stock after selling 20,000 shares during the quarter. New York State Common Retirement Fund’s holdings in General Motors were worth $79,170,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of General Motors by 0.5% in the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after acquiring an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after acquiring an additional 989,750 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after acquiring an additional 421,989 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of General Motors by 6.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock worth $259,988,000 after acquiring an additional 358,507 shares during the period. Finally, AustralianSuper Pty Ltd grew its holdings in shares of General Motors by 35.8% in the fourth quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer’s stock worth $234,364,000 after acquiring an additional 1,159,958 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

NYSE:GM opened at $47.77 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $47.53 billion, a P/E ratio of 7.77, a P/E/G ratio of 0.68 and a beta of 1.40. General Motors has a 12 month low of $38.13 and a 12 month high of $61.24. The business’s 50-day moving average is $50.90 and its 200 day moving average is $50.13.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, equities research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.00%. General Motors’s payout ratio is currently 7.80%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the subject of several research analyst reports. Royal Bank of Canada lifted their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Mizuho lifted their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lifted their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $59.71.

General Motors Company Profile

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.