General Pension Society PZU Joint Stock Co Sells 163,299 Shares of General Motors (NYSE:GM)

General Pension Society PZU Joint Stock Co reduced its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 66.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,908 shares of the auto manufacturer's stock after selling 163,299 shares during the period. General Motors accounts for about 1.3% of General Pension Society PZU Joint Stock Co's holdings, making the stock its 16th biggest position. General Pension Society PZU Joint Stock Co's holdings in General Motors were worth $3,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Sterneck Capital Management LLC grew its stake in shares of General Motors by 151.0% during the 1st quarter. Sterneck Capital Management LLC now owns 13,424 shares of the auto manufacturer's stock valued at $631,000 after buying an additional 8,075 shares during the period. BTC Capital Management Inc. lifted its holdings in General Motors by 1.6% in the 1st quarter. BTC Capital Management Inc. now owns 123,321 shares of the auto manufacturer's stock worth $5,800,000 after buying an additional 1,914 shares in the last quarter. GAMMA Investing LLC lifted its holdings in General Motors by 5,102.5% in the 1st quarter. GAMMA Investing LLC now owns 946,855 shares of the auto manufacturer's stock worth $44,531,000 after buying an additional 928,655 shares in the last quarter. Versant Capital Management Inc lifted its holdings in General Motors by 120.7% in the 1st quarter. Versant Capital Management Inc now owns 3,235 shares of the auto manufacturer's stock worth $152,000 after buying an additional 1,769 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in General Motors by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 1,195,961 shares of the auto manufacturer's stock worth $63,709,000 after buying an additional 7,081 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GM has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Barclays upped their target price on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. TD Cowen assumed coverage on shares of General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 target price on the stock. Finally, Piper Sandler restated a "neutral" rating and issued a $48.00 target price (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Motors presently has an average rating of "Hold" and an average price target of $54.56.

General Motors Trading Down 0.3%

General Motors stock traded down $0.16 during midday trading on Thursday, reaching $47.51. The stock had a trading volume of 4,378,278 shares, compared to its average volume of 13,193,686. The firm's fifty day simple moving average is $46.79 and its two-hundred day simple moving average is $49.49. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market cap of $45.68 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 0.67 and a beta of 1.34.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $2.62 EPS. Equities analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is presently 8.65%.

General Motors announced that its board has authorized a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

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.