Teachers Retirement System of The State of Kentucky Sells 26,842 Shares of General Motors Company (NYSE:GM)

Teachers Retirement System of The State of Kentucky lowered its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 4.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 567,414 shares of the auto manufacturer's stock after selling 26,842 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.06% of General Motors worth $26,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. lifted its holdings in shares of General Motors by 180.9% in the first quarter. J.W. Cole Advisors Inc. now owns 29,234 shares of the auto manufacturer's stock valued at $1,375,000 after purchasing an additional 18,826 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of General Motors by 15.6% in the first quarter. IFP Advisors Inc now owns 18,380 shares of the auto manufacturer's stock valued at $864,000 after purchasing an additional 2,479 shares in the last quarter. OneAscent Financial Services LLC lifted its holdings in shares of General Motors by 3.7% in the first quarter. OneAscent Financial Services LLC now owns 12,349 shares of the auto manufacturer's stock valued at $581,000 after purchasing an additional 440 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after acquiring an additional 1,712,033 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in General Motors by 0.9% during the first quarter. Kestra Private Wealth Services LLC now owns 29,967 shares of the auto manufacturer's stock worth $1,409,000 after acquiring an additional 278 shares during the period. Institutional investors own 92.67% of the company's stock.

General Motors Price Performance

NYSE:GM opened at $53.23 on Friday. The firm has a market capitalization of $51.18 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 1.43 and a beta of 1.32. General Motors Company has a 52-week low of $38.96 and a 52-week high of $61.24. The stock has a fifty day moving average of $50.02 and a 200 day moving average of $48.71. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $42.64 billion. During the same quarter last year, the company earned $2.62 earnings per share. The firm's quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were issued a $0.15 dividend. This is a boost from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, June 6th. General Motors's dividend payout ratio is presently 8.65%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GM. Mizuho lifted their price target on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. JPMorgan Chase & Co. decreased their target price on 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 reissued a "neutral" rating and issued a $48.00 target price (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $36.00 target price on General Motors in a research report on Monday, May 5th. Finally, UBS Group raised their target price on General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $55.17.

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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