Arizona State Retirement System Reduces Stock Holdings in General Motors Company (NYSE:GM)

Arizona State Retirement System cut its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 9.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 292,079 shares of the auto manufacturer's stock after selling 30,489 shares during the period. Arizona State Retirement System's holdings in General Motors were worth $13,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GM. Nemes Rush Group LLC increased its position in shares of General Motors by 18.7% during the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock valued at $73,000 after purchasing an additional 217 shares during the last quarter. Operose Advisors LLC boosted its stake in shares of General Motors by 18.7% during the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after acquiring an additional 223 shares during the last quarter. Bessemer Group Inc. grew its position in shares of General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after acquiring an additional 226 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of General Motors by 3.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock worth $316,000 after purchasing an additional 235 shares in the last quarter. Finally, Burford Brothers Inc. raised its holdings in General Motors by 2.8% in the 1st quarter. Burford Brothers Inc. now owns 8,718 shares of the auto manufacturer's stock worth $410,000 after purchasing an additional 241 shares during the period. Institutional investors own 92.67% of the company's stock.

General Motors Stock Down 0.1%

NYSE:GM traded down $0.06 during mid-day trading on Monday, reaching $53.33. The company's stock had a trading volume of 6,932,506 shares, compared to its average volume of 12,655,733. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. General Motors Company has a 1 year low of $38.96 and a 1 year high of $61.24. The stock has a fifty day moving average of $49.33 and a 200-day moving average of $48.69. The firm has a market capitalization of $51.27 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The company had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. During the same quarter in the prior year, the business earned $2.62 earnings per share. General Motors's revenue was up 2.3% on a year-over-year basis. Equities research analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Friday, June 6th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.13%. The ex-dividend date was Friday, June 6th. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is currently 8.65%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GM. Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target for the company. in a research report on Monday, April 14th. Piper Sandler restated a "neutral" rating and set a $48.00 target price (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Royal Bank Of Canada upped their price target on shares of General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Barclays raised their price objective on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. decreased their price target on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $54.61.

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.