Teacher Retirement System of Texas Buys 485,264 Shares of General Motors (NYSE:GM)

Teacher Retirement System of Texas grew its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 38.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,750,082 shares of the auto manufacturer's stock after purchasing an additional 485,264 shares during the period. Teacher Retirement System of Texas owned about 0.18% of General Motors worth $93,227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in General Motors during the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new stake in shares of General Motors during the fourth quarter worth $26,000. Truvestments Capital LLC acquired a new stake in shares of General Motors during the third quarter worth $27,000. Compass Planning Associates Inc bought a new stake in General Motors in the 4th quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. boosted its stake 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 worth $27,000 after purchasing an additional 498 shares during the period. 92.67% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company's stock.

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General Motors Trading Up 3.3 %

Shares of General Motors stock traded up $1.67 on Monday, hitting $51.47. The stock had a trading volume of 16,019,674 shares, compared to its average volume of 12,893,081. The stock has a 50 day moving average of $49.02 and a 200 day moving average of $50.49. The firm has a market capitalization of $51.21 billion, a P/E ratio of 8.37, a PEG ratio of 0.67 and a beta of 1.42. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

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

General Motors announced that its board has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.93%. General Motors's dividend payout ratio (DPR) is presently 7.80%.

Analyst Ratings Changes

A number of analysts have recently commented on GM shares. Cowen started coverage on General Motors in a report on Thursday, March 6th. They issued a "buy" rating on the stock. HSBC cut shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a "hold" rating to a "buy" rating and lifted their price target for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Morgan Stanley upgraded General Motors from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 target price on the stock. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, General Motors presently has an average 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.