General Motors (NYSE:GM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,505,534 shares of the auto manufacturer’s stock after selling 111,822 shares during the quarter. California Public Employees Retirement System’s holdings in General Motors were worth $89,999,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB lifted its stake in General Motors by 18.5% during the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after purchasing an additional 74,194 shares in the last quarter. Cerity Partners LLC lifted its stake in General Motors by 361.1% during the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after acquiring an additional 93,754 shares in the last quarter. Foundry Partners LLC lifted its stake in General Motors by 15.0% during the 3rd quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after acquiring an additional 51,336 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in General Motors by 10.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock valued at $4,859,000 after acquiring an additional 14,002 shares during the period. Finally, AM Squared Ltd grew its position in General Motors by 195.0% in the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after acquiring an additional 27,300 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Trading Down 0.1 %

NYSE:GM opened at $45.07 on Thursday. The company has a market capitalization of $52.03 billion, a PE ratio of 5.51, a P/E/G ratio of 0.53 and a beta of 1.51. General Motors has a 52-week low of $26.30 and a 52-week high of $46.04. The stock’s 50 day moving average price is $42.00 and its 200 day moving average price is $36.12. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 EPS. On average, research analysts anticipate that General Motors will post 9.26 EPS for the current year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio is presently 5.87%.

Insiders Place Their Bets

In related news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GM shares. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Sanford C. Bernstein began coverage on General Motors in a research report on Thursday. They set an “outperform” rating and a $55.00 price objective on the stock. The Goldman Sachs Group boosted their target price on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Wedbush increased their price target on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.38.

General Motors Company 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.