Teacher Retirement System of Texas Grows Stock Position in General Motors (NYSE:GM)

Teacher Retirement System of Texas boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 38.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,750,082 shares of the auto manufacturer’s stock after acquiring an additional 485,264 shares during the quarter. Teacher Retirement System of Texas owned 0.18% of General Motors worth $93,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Golden State Wealth Management LLC purchased a new position in shares of General Motors in the fourth quarter worth $25,000. Crews Bank & Trust purchased a new position in shares of General Motors in the fourth quarter valued at about $26,000. Truvestments Capital LLC bought a new position in shares of General Motors during the third quarter valued at about $27,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors during the fourth quarter worth about $27,000. Finally, Duncker Streett & Co. Inc. grew its stake in shares of General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Up 2.4 %

Shares of GM stock opened at $49.84 on Thursday. The company’s fifty day simple moving average is $49.05 and its two-hundred day simple moving average is $50.47. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The stock has a market cap of $49.59 billion, a P/E ratio of 8.10, a PEG 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 released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.96%. General Motors’s payout ratio is currently 7.80%.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GM. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. The Goldman Sachs Group set a $73.00 price target on General Motors in a research report on Saturday, March 1st. TD Cowen started coverage on General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, Cowen started coverage on General Motors in a research note on Thursday, March 6th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.89.

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.