Maryland State Retirement & Pension System Trims Holdings in General Motors Company (NYSE:GM)

Key Points

• The Maryland State Retirement & Pension System reduced its holdings in General Motors by 20.7%, selling 12,064 shares and ending the quarter with 46,335 shares valued at approximately $2.18 million.
• Several hedge funds increased their positions in General Motors, with notable increases from Deutsche Bank AG (2.3%) and Chicago Partners Investment Group LLC (25.2%), while institutional investors and hedge funds collectively own 92.67% of the company's stock.
• General Motors declared a quarterly dividend of $0.15 per share, with an annualized yield of 1.1%, and the ex-dividend date is set for September 5th.

Maryland State Retirement & Pension System reduced its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 20.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,335 shares of the auto manufacturer's stock after selling 12,064 shares during the period. Maryland State Retirement & Pension System's holdings in General Motors were worth $2,179,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Operose Advisors LLC increased its holdings in General Motors by 18.7% during the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after buying an additional 223 shares during the last quarter. Bessemer Group Inc. increased its holdings in General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after buying an additional 226 shares during the last quarter. Hohimer Wealth Management LLC increased its holdings in General Motors by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock worth $3,310,000 after buying an additional 230 shares during the last quarter. HHM Wealth Advisors LLC increased its holdings in General Motors by 14.4% during the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock worth $86,000 after buying an additional 232 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its holdings in General Motors by 3.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock worth $316,000 after buying an additional 235 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Transactions at General Motors

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the transaction, the executive vice president owned 8,513 shares in the company, valued at approximately $451,274.13. This represents a 73.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

General Motors Trading Up 1.1%

General Motors stock traded up $0.57 during mid-day trading on Friday, reaching $53.52. 4,125,133 shares of the company traded hands, compared to its average volume of 10,127,242. The firm's 50 day moving average price is $50.95 and its 200 day moving average price is $48.78. The firm has a market capitalization of $50.96 billion, a price-to-earnings ratio of 8.50, a P/E/G ratio of 1.13 and a beta of 1.36. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. General Motors Company has a 52-week low of $41.60 and a 52-week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company's revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.06 EPS. On average, analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a $0.15 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. General Motors's payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GM shares. Wells Fargo & Company lifted their target price on shares of General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 23rd. Benchmark started coverage on shares of General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 target price for the company. Wedbush reiterated an "outperform" rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, July 23rd. UBS Group lifted their target price on shares of General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, General Motors currently has a consensus rating of "Hold" and an average price target of $57.53.

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.