New York State Teachers Retirement System Lowers Position in General Motors Company $GM

Key Points

• The New York State Teachers Retirement System reduced its stake in General Motors by 1.8%, owning approximately 1,035,857 shares worth $50.97 million after selling 18,590 shares in the second quarter.
• General Motors reported earnings per share of $2.53 for the most recent quarter, surpassing analysts' expectations, despite a 1.8% decrease in revenue year-over-year.
• The company declared a quarterly dividend of $0.15 per share, representing an annualized yield of 1.0% with a low payout ratio of 9.52%.

New York State Teachers Retirement System cut its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,035,857 shares of the auto manufacturer's stock after selling 18,590 shares during the period. New York State Teachers Retirement System owned about 0.11% of General Motors worth $50,975,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in General Motors by 6.9% during the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after purchasing an additional 6,395,375 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in General Motors by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock valued at $676,322,000 after purchasing an additional 316,196 shares in the last quarter. Invesco Ltd. lifted its position in General Motors by 4.5% during the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock valued at $646,482,000 after purchasing an additional 594,217 shares in the last quarter. AQR Capital Management LLC lifted its position in General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock valued at $629,196,000 after purchasing an additional 8,012,743 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in General Motors by 17.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock valued at $603,048,000 after purchasing an additional 1,910,186 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Trading Down 0.8%

Shares of GM stock opened at $57.32 on Friday. General Motors Company has a 12-month low of $41.60 and a 12-month high of $62.14. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The stock's 50-day moving average price is $57.95 and its 200-day moving average price is $52.00. The stock has a market capitalization of $54.57 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 1.71 and a beta of 1.33.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The firm had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same period in the previous year, the firm posted $3.06 earnings per share. The business's revenue was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Equities research analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. General Motors's payout ratio is presently 9.52%.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 136,161 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $60.12, for a total transaction of $8,185,999.32. Following the sale, the president directly owned 131,036 shares of the company's stock, valued at $7,877,884.32. The trade was a 50.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mary T. Barra sold 753,720 shares of the business's stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total value of $45,185,514.00. Following the sale, the chief executive officer directly owned 433,527 shares in the company, valued at $25,989,943.65. The trade was a 63.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,074,824 shares of company stock valued at $122,377,213. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GM shares. The Goldman Sachs Group lifted their target price on General Motors from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Monday, September 29th. Weiss Ratings reissued a "buy (b-)" rating on shares of General Motors in a report on Wednesday, October 8th. CLSA raised General Motors to a "moderate buy" rating in a report on Monday, July 7th. Bank of America decreased their price target on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Finally, UBS Group raised General Motors from a "neutral" rating to a "buy" rating and raised their price target for the company from $56.00 to $81.00 in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $65.00.

General Motors 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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