General Motors Company (NYSE:GM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 12.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,568 shares of the auto manufacturer's stock after selling 9,667 shares during the quarter. Kentucky Retirement Systems' holdings in General Motors were worth $3,178,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. acquired a new position in General Motors during the 4th quarter valued at approximately $27,000. Whittier Trust Co. increased its position in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after acquiring an additional 425 shares during the period. Duncker Streett & Co. Inc. increased its position in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after acquiring an additional 498 shares during the period. Transce3nd LLC acquired a new stake in General Motors during the 4th quarter worth about $34,000. Finally, Rakuten Securities Inc. grew its stake in General Motors by 195.5% during the 4th quarter. Rakuten Securities Inc. now owns 792 shares of the auto manufacturer's stock valued at $42,000 after purchasing an additional 524 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

GM traded up $1.03 during trading on Thursday, hitting $49.16. The company's stock had a trading volume of 10,385,242 shares, compared to its average volume of 12,774,316. The firm has a market capitalization of $47.27 billion, a price-to-earnings ratio of 7.08, a P/E/G ratio of 1.29 and a beta of 1.34. General Motors Company has a twelve month low of $38.96 and a twelve month high of $61.24. The business's fifty day simple moving average is $47.95 and its 200 day simple moving average is $48.75. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46.

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

General Motors announced that its board has initiated a stock buyback program 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 programs are often an indication that the company's management believes its stock is undervalued.

General Motors Increases Dividend

The business also recently announced 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. 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 1.22%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is currently 8.65%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GM. Wedbush reduced their price objective on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Cowen initiated coverage on shares of General Motors in a research report on Thursday, March 6th. They set a "buy" rating for the company. The Goldman Sachs Group dropped their price objective on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. UBS Group reduced their target price on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. decreased their target price 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. Four investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $53.35.

About General Motors

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.