Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $12.46 Million Stock Holdings in General Motors (NYSE:GM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,807 shares of the auto manufacturer’s stock after selling 10,860 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in General Motors were worth $12,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GM. Trust Point Inc. grew its holdings in shares of General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after purchasing an additional 193 shares in the last quarter. Avestar Capital LLC grew its holdings in shares of General Motors by 2.3% during the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after purchasing an additional 213 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of General Motors by 7.9% during the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after purchasing an additional 213 shares in the last quarter. Holistic Planning LLC grew its holdings in shares of General Motors by 3.9% during the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after purchasing an additional 214 shares in the last quarter. Finally, Norden Group LLC grew its holdings in shares of General Motors by 3.0% during the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock worth $421,000 after purchasing an additional 229 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GM shares. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Piper Sandler upped their price objective on General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen started coverage on General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective for the company. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus price target of $63.06.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction dated 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 acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.7 %

Shares of GM stock opened at $49.77 on Friday. The stock has a market cap of $49.53 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.42. The stock has a 50-day moving average of $49.02 and a 200-day moving average of $50.46. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping the consensus estimate 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 year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

General Motors announced that its Board of Directors has approved a share buyback program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

General Motors 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.