Maryland State Retirement & Pension System Has $3.11 Million Stock Position in General Motors (NYSE:GM)

Maryland State Retirement & Pension System lessened its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,399 shares of the auto manufacturer's stock after selling 6,384 shares during the period. Maryland State Retirement & Pension System's holdings in General Motors were worth $3,111,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in General Motors in the 4th quarter valued at approximately $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the fourth quarter valued at approximately $26,000. Truvestments Capital LLC bought a new position in General Motors during the third quarter worth $27,000. Compass Planning Associates Inc acquired a new position in General Motors during the 4th quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. boosted its holdings in General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 498 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the 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 transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

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Analyst Ratings Changes

Several research firms have recently issued reports on GM. Cowen initiated coverage on shares of General Motors in a report on Thursday, March 6th. They set a "buy" rating on the stock. Hsbc Global Res cut General Motors from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. HSBC lowered General Motors from a "buy" rating to a "hold" rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 11th. Wells Fargo & Company restated an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. Finally, TD Cowen assumed coverage on shares of General Motors in a research note on Friday, March 7th. They set a "buy" rating and a $105.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $63.06.

General Motors Trading Up 2.3 %

GM stock traded up $1.16 during midday trading on Tuesday, reaching $52.62. The company's stock had a trading volume of 14,834,275 shares, compared to its average volume of 12,886,448. The business's 50-day simple moving average is $49.05 and its 200-day simple moving average is $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 has a 52 week low of $38.96 and a 52 week high of $61.24. The stock has a market cap of $52.36 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, sell-side analysts expect that General Motors will post 11.44 EPS for the current year.

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

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. General Motors's dividend payout ratio is 7.80%.

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.