New York State Teachers Retirement System Reduces Position in General Motors Company $GM

New York State Teachers Retirement System lessened its holdings in shares of General Motors Company (NYSE:GMFree Report) (TSE:GMM.U) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,035,857 shares of the auto manufacturer’s stock after selling 18,590 shares during the period. New York State Teachers Retirement System’s holdings in General Motors were worth $50,975,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GM. Trust Co. of Toledo NA OH purchased a new position in shares of General Motors during the second quarter valued at approximately $25,000. GFG Capital LLC purchased a new position in shares of General Motors during the second quarter valued at approximately $27,000. Costello Asset Management INC purchased a new position in shares of General Motors during the first quarter valued at approximately $32,000. RMG Wealth Management LLC purchased a new position in shares of General Motors during the second quarter valued at approximately $32,000. Finally, WPG Advisers LLC purchased a new position in shares of General Motors during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays boosted their target price on General Motors from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. Evercore ISI increased their price objective on General Motors from $55.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of General Motors in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price objective on General Motors from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Friday, October 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $65.00 price objective on shares of General Motors in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Read Our Latest Stock Analysis on General Motors

General Motors Stock Down 0.8%

General Motors stock opened at $57.32 on Friday. The business has a fifty day moving average of $57.95 and a two-hundred day moving average of $52.00. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The firm has a market cap of $54.57 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.71 and a beta of 1.33. General Motors Company has a twelve month low of $41.60 and a twelve month high of $62.14.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last posted its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.01. The company had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.General Motors’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. General Motors’s dividend payout ratio is currently 9.52%.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 136,161 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $60.12, for a total transaction of $8,185,999.32. Following the completion of the sale, the president owned 131,036 shares in the company, valued at $7,877,884.32. This represents a 50.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary T. Barra sold 753,720 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total value of $45,185,514.00. Following the transaction, the chief executive officer directly owned 433,527 shares in the company, valued at approximately $25,989,943.65. The trade was a 63.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,074,824 shares of company stock worth $122,377,213 in the last three months. Corporate insiders own 0.54% of the company’s stock.

General Motors Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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