Retirement Systems of Alabama Decreases Stake in General Motors (NYSE:GM)

Retirement Systems of Alabama trimmed its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,316,034 shares of the auto manufacturer's stock after selling 24,120 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of General Motors worth $59,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors in the second quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors in the 3rd quarter valued at about $27,000. Truvestments Capital LLC acquired a new stake in shares of General Motors in the third quarter valued at about $27,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the second quarter worth about $28,000. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors in the second quarter worth approximately $33,000. Institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

Shares of GM traded up $0.23 during mid-day trading on Friday, hitting $52.53. The stock had a trading volume of 8,849,316 shares, compared to its average volume of 14,725,391. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a market cap of $57.76 billion, a P/E ratio of 5.60, a PEG ratio of 0.39 and a beta of 1.42. General Motors has a 52 week low of $34.32 and a 52 week high of $61.24. The business has a fifty day moving average price of $53.00 and a 200-day moving average price of $48.64.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the firm earned $2.28 EPS. General Motors's revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.91%. General Motors's dividend payout ratio is currently 5.12%.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company's stock, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company's stock, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GM. Morgan Stanley raised shares of General Motors from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $46.00 to $54.00 in a research note on Tuesday. Royal Bank of Canada lifted their price objective on General Motors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Wedbush upped their target price on General Motors from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Barclays raised their target price on General Motors from $64.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $58.85.

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.