State of Michigan Retirement System Has $19.57 Million Stock Holdings in General Motors Company (NYSE:GM)

State of Michigan Retirement System lessened its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 416,008 shares of the auto manufacturer's stock after selling 28,500 shares during the period. State of Michigan Retirement System's holdings in General Motors were worth $19,565,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. grew its stake in shares of General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after acquiring an additional 425 shares during the last quarter. Measured Risk Portfolios Inc. acquired a new stake in shares of General Motors in the fourth quarter worth $27,000. Transce3nd LLC acquired a new stake in shares of General Motors in the fourth quarter worth $34,000. North Capital Inc. acquired a new stake in shares of General Motors in the first quarter worth $40,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of General Motors in the fourth quarter worth $44,000. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Stock Up 0.4%

NYSE GM traded up $0.21 during trading on Friday, hitting $53.36. The stock had a trading volume of 7,695,988 shares, compared to its average volume of 12,693,156. The company has a market capitalization of $51.30 billion, a PE ratio of 7.69, a P/E/G ratio of 1.43 and a beta of 1.32. The company's 50-day moving average price is $49.33 and its two-hundred day moving average price is $48.76. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.04 and a current ratio of 1.21. General Motors Company has a 12 month low of $38.96 and a 12 month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The company had revenue of $44.02 billion for the quarter, compared to analysts' expectations of $42.64 billion. During the same quarter in the prior year, the business posted $2.62 EPS. The business's revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.12%. 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%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GM shares. JPMorgan Chase & Co. decreased their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Wedbush cut their price target on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Sanford C. Bernstein set a $36.00 price target on General Motors in a report on Monday, May 5th. Citigroup initiated coverage on General Motors in a report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price objective for the company. Finally, Piper Sandler reissued a "neutral" rating and set a $48.00 price objective (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $53.35.

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.