Retirement Systems of Alabama Decreases Holdings in General Motors Company (NYSE:GM)

Retirement Systems of Alabama trimmed its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 32.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 889,167 shares of the auto manufacturer's stock after selling 427,097 shares during the period. Retirement Systems of Alabama owned 0.09% of General Motors worth $41,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of General Motors in the 4th quarter valued at about $25,404,000. Handelsbanken Fonder AB boosted its position in shares of General Motors by 10.9% in the 4th 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 period. Olstein Capital Management L.P. boosted its position in shares of General Motors by 18.0% in the 1st quarter. Olstein Capital Management L.P. now owns 144,000 shares of the auto manufacturer's stock valued at $6,772,000 after purchasing an additional 22,000 shares during the period. Longbow Finance SA acquired a new stake in shares of General Motors in the 4th quarter valued at about $5,865,000. Finally, Catalyst Funds Management Pty Ltd boosted its position in shares of General Motors by 154.8% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 23,700 shares of the auto manufacturer's stock valued at $1,262,000 after purchasing an additional 14,400 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GM has been the subject of several analyst reports. Sanford C. Bernstein set a $36.00 price objective on General Motors in a research note on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. TD Cowen initiated coverage on General Motors in a research note on Friday, March 7th. They set a "buy" rating and a $105.00 price objective for the company. Deutsche Bank Aktiengesellschaft downgraded General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a research note on Monday, April 14th. Finally, Mizuho upped their price objective on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, General Motors currently has an average rating of "Hold" and a consensus target price of $53.35.

General Motors Stock Performance

GM opened at $48.10 on Friday. The stock has a market cap of $46.24 billion, a P/E ratio of 6.93, a P/E/G ratio of 1.29 and a beta of 1.34. 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's 50 day simple moving average is $47.62 and its 200 day simple moving average is $48.88. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. The business had revenue of $44.02 billion for 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 company's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.62 EPS. As a group, equities analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Friday, June 6th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Friday, June 6th. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is 8.65%.

General Motors announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

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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