State of Tennessee Department of Treasury Decreases Stake in General Motors (NYSE:GM)

State of Tennessee Department of Treasury decreased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 21.7% in the 4th quarter, Holdings Channel reports. The firm owned 517,704 shares of the auto manufacturer’s stock after selling 143,449 shares during the quarter. State of Tennessee Department of Treasury’s holdings in General Motors were worth $27,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Trust Point Inc. grew its holdings in shares of General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after acquiring an additional 193 shares during the period. Holistic Planning LLC boosted its position in shares of General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after buying an additional 214 shares in the last quarter. Nemes Rush Group LLC increased its holdings in General Motors by 18.7% during the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer’s stock valued at $73,000 after acquiring an additional 217 shares in the last quarter. Operose Advisors LLC grew its position in shares of General Motors by 18.7% in the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer’s stock valued at $75,000 after purchasing an additional 223 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in shares of General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer’s stock worth $2,856,000 after purchasing an additional 226 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Down 0.4 %

NYSE:GM opened at $44.40 on Tuesday. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The business’s 50-day moving average is $47.03 and its two-hundred day moving average is $50.36. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market capitalization of $44.18 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Research analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Friday, March 7th. General Motors’s payout ratio is 7.80%.

General Motors declared that its board has approved a share buyback program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. TD Cowen started coverage on shares of General Motors in a research report on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective for the company. Sanford C. Bernstein cut shares of General Motors from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $50.00 to $35.00 in a research note on Monday, April 7th. Barclays cut General Motors from an “overweight” rating to a “negative” rating in a report on Tuesday, April 15th. Finally, UBS Group reissued a “neutral” rating and issued a $51.00 price target (down from $64.00) on shares of General Motors in a research note on Thursday, April 10th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.72.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $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 currently owned by company insiders.

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.