Teacher Retirement System of Texas Sells 788,102 Shares of General Motors Company (NYSE:GM)

Teacher Retirement System of Texas reduced its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 45.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 961,980 shares of the auto manufacturer’s stock after selling 788,102 shares during the period. Teacher Retirement System of Texas owned 0.10% of General Motors worth $45,242,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of General Motors during the 4th quarter worth $592,321,000. Assenagon Asset Management S.A. raised its holdings in General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer’s stock valued at $134,457,000 after acquiring an additional 2,154,037 shares during the period. Amundi raised its stake in shares of General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after purchasing an additional 2,113,973 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of General Motors in the fourth quarter worth about $108,366,000. Finally, National Bank of Canada FI grew its stake in General Motors by 54.4% during the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer’s stock valued at $178,593,000 after acquiring an additional 1,180,936 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on GM shares. UBS Group reduced their target price on General Motors from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Royal Bank Of Canada boosted their price objective on General Motors from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a research note on Monday, May 5th. The Goldman Sachs Group dropped their target price on shares of General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Barclays increased their price target on shares of General Motors from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus target price of $53.35.

General Motors Trading Up 1.1%

Shares of NYSE:GM opened at $52.60 on Thursday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. General Motors Company has a 1 year low of $38.96 and a 1 year high of $61.24. The company has a market cap of $50.57 billion, a P/E ratio of 7.58, a PEG ratio of 1.40 and a beta of 1.32. The stock’s fifty day moving average price is $48.42 and its 200-day moving average price is $48.71.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The business had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same period in the previous year, the company posted $2.62 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Friday, June 6th were given a $0.15 dividend. This is a positive change from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, June 6th. General Motors’s dividend payout ratio is presently 8.65%.

About General Motors

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.