Kentucky Retirement Systems Insurance Trust Fund Has $1.35 Million Holdings in General Motors Company (NYSE:GM)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 28.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,779 shares of the auto manufacturer's stock after selling 11,555 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in General Motors were worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in General Motors by 456.1% during the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after purchasing an additional 31,755 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in General Motors by 84.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,993 shares of the auto manufacturer's stock valued at $159,000 after purchasing an additional 1,367 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock valued at $10,763,000 after purchasing an additional 19,924 shares during the last quarter. Olympiad Research LP acquired a new stake in General Motors during the fourth quarter valued at approximately $283,000. Finally, TCW Group Inc. lifted its stake in General Motors by 1.7% during the fourth quarter. TCW Group Inc. now owns 1,427,352 shares of the auto manufacturer's stock valued at $76,035,000 after purchasing an additional 23,979 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Up 0.7%

Shares of GM traded up $0.36 during mid-day trading on Monday, hitting $48.56. 10,623,131 shares of the company's stock were exchanged, compared to its average volume of 12,966,227. The firm has a fifty day moving average of $47.69 and a two-hundred day moving average of $48.78. General Motors Company has a twelve month low of $38.96 and a twelve month high of $61.24. The stock has a market cap of $46.69 billion, a price-to-earnings ratio of 7.00, a P/E/G ratio of 1.29 and a beta of 1.34. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The company had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same quarter in the prior year, the business posted $2.62 EPS. General Motors's quarterly revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors declared that its board has initiated a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were paid a dividend of $0.15 per share. This is a positive change from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.24%. General Motors's dividend payout ratio is 8.65%.

Wall Street Analyst Weigh In

GM has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Piper Sandler restated a "neutral" rating and issued a $48.00 price target (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research report on Monday, May 5th. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of 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. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.