General Motors Company (NYSE:GM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 0.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,479,955 shares of the auto manufacturer's stock after selling 6,246 shares during the quarter. New York State Common Retirement Fund owned about 0.15% of General Motors worth $69,602,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GM. Burford Brothers Inc. raised its holdings in General Motors by 2.8% in the first quarter. Burford Brothers Inc. now owns 8,718 shares of the auto manufacturer's stock valued at $410,000 after acquiring an additional 241 shares in the last quarter. Cerity Partners LLC increased its stake in General Motors by 46.9% in the first quarter. Cerity Partners LLC now owns 497,222 shares of the auto manufacturer's stock valued at $23,384,000 after purchasing an additional 158,825 shares during the last quarter. tru Independence LLC increased its stake in General Motors by 1.0% in the first quarter. tru Independence LLC now owns 159,643 shares of the auto manufacturer's stock valued at $7,508,000 after purchasing an additional 1,600 shares during the last quarter. Poinciana Advisors Group LLC purchased a new position in General Motors in the first quarter valued at approximately $334,000. Finally, Nisa Investment Advisors LLC increased its stake in General Motors by 11.1% in the first quarter. Nisa Investment Advisors LLC now owns 191,303 shares of the auto manufacturer's stock valued at $8,997,000 after purchasing an additional 19,094 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Stock Up 0.4%

GM opened at $53.36 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. The stock has a market capitalization of $51.30 billion, a price-to-earnings ratio of 7.69, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32. The business has a 50-day moving average of $49.33 and a two-hundred day moving average of $48.69. General Motors Company has a 12 month low of $38.96 and a 12 month high of $61.24.

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

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is presently 8.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Mizuho lifted their price objective on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Piper Sandler reiterated a "neutral" rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $36.00 target price on General Motors in a report on Monday, May 5th. Finally, UBS Group reduced their target price on General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $53.35.

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.

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