Oregon Public Employees Retirement Fund Sells 696 Shares of General Motors (NYSE:GM)

Oregon Public Employees Retirement Fund lowered its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 0.7% in the second quarter, Holdings Channel reports. The fund owned 97,952 shares of the auto manufacturer’s stock after selling 696 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in General Motors were worth $4,551,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its holdings in shares of General Motors by 804.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,834 shares of the auto manufacturer’s stock worth $209,000 after purchasing an additional 5,189 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new position in General Motors in the 4th quarter valued at approximately $113,000. Apollon Wealth Management LLC raised its stake in shares of General Motors by 51.9% during the fourth quarter. Apollon Wealth Management LLC now owns 18,110 shares of the auto manufacturer’s stock valued at $651,000 after acquiring an additional 6,186 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of General Motors by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,327,552 shares of the auto manufacturer’s stock worth $370,966,000 after purchasing an additional 558,765 shares during the period. Finally, Gryphon Financial Partners LLC bought a new stake in shares of General Motors in the fourth quarter worth $335,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the sale, the president now owns 162,049 shares of the company’s stock, valued at approximately $7,455,874.49. The disclosure for this sale can be found here. Insiders sold a total of 391,402 shares of company stock valued at $18,818,536 over the last ninety days. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GM shares. Bank of America reaffirmed a “buy” rating and set a $75.00 target price on shares of General Motors in a report on Wednesday, June 12th. Wedbush reissued an “outperform” rating and set a $55.00 target price on shares of General Motors in a research report on Wednesday, July 24th. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research report on Monday, August 5th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada dropped their target price on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.17.

General Motors Price Performance

Shares of NYSE:GM opened at $48.45 on Thursday. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The stock’s 50 day moving average is $46.21 and its 200-day moving average is $44.67. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $54.45 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.50 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the prior year, the company posted $1.91 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts forecast that General Motors will post 9.94 EPS for the current fiscal year.

General Motors declared that its Board of Directors has initiated a share repurchase plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

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.