General Motors (NYSE:GM) Holdings Decreased by Arizona State Retirement System

Arizona State Retirement System trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 322,568 shares of the auto manufacturer’s stock after selling 4,411 shares during the quarter. Arizona State Retirement System’s holdings in General Motors were worth $17,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in GM. Farther Finance Advisors LLC increased its holdings in shares of General Motors by 20.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 6,021 shares of the auto manufacturer’s stock valued at $270,000 after acquiring an additional 1,019 shares during the last quarter. Van ECK Associates Corp grew its stake in General Motors by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 35,384 shares of the auto manufacturer’s stock worth $1,587,000 after buying an additional 2,015 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in General Motors during the 3rd quarter worth $27,000. Catalina Capital Group LLC grew its stake in General Motors by 20.8% during the 3rd quarter. Catalina Capital Group LLC now owns 7,202 shares of the auto manufacturer’s stock worth $323,000 after buying an additional 1,239 shares during the last quarter. Finally, Foster & Motley Inc. grew its stake in General Motors by 121.5% during the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after buying an additional 25,869 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GM. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Mizuho upped their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus target price of $59.71.

General Motors Trading Up 7.2 %

Shares of GM stock opened at $48.48 on Thursday. The stock has a 50-day simple moving average of $49.98 and a 200 day simple moving average of $50.45. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The stock has a market capitalization of $48.24 billion, a P/E ratio of 7.88, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating 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, sell-side analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s dividend payout ratio (DPR) is 7.80%.

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.