Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 10,860 Shares of General Motors (NYSE:GM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 233,807 shares of the auto manufacturer's stock after selling 10,860 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in General Motors were worth $12,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of GM. Amundi grew its holdings in shares of General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC grew its holdings in General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock worth $394,060,000 after acquiring an additional 2,104,528 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in General Motors in the 4th quarter valued at about $108,366,000. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer's stock worth $94,300,000 after acquiring an additional 1,906,964 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of General Motors by 158.8% during the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer's stock worth $97,374,000 after purchasing an additional 1,332,450 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

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General Motors Stock Up 1.5 %

Shares of GM stock traded up $0.79 during trading on Tuesday, reaching $52.25. The company's stock had a trading volume of 3,594,977 shares, compared to its average volume of 12,886,448. The company has a market cap of $51.99 billion, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a one year low of $38.96 and a one year high of $61.24. The business has a fifty day moving average price of $49.05 and a 200-day moving average price of $50.51. 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 - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping 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 anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, March 7th. General Motors's dividend payout ratio is currently 7.80%.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors 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 completion of the acquisition, the director now owns 13,714 shares of the company's stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GM has been the subject of several research analyst reports. StockNews.com cut shares of General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Cowen began coverage on General Motors in a research note on Thursday, March 6th. They set a "buy" rating on the stock. Morgan Stanley upgraded General Motors from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a "hold" rating to a "buy" rating and upped their target price for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. Finally, Piper Sandler lifted their price target on shares of General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research report on Thursday, March 20th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $63.06.

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.