General Motors (NYSE:GM) Stock Position Cut by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 517,704 shares of the auto manufacturer's stock after selling 143,449 shares during the quarter. State of Tennessee Department of Treasury owned about 0.05% of General Motors worth $27,578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC purchased a new position in shares of General Motors in the 4th quarter worth about $25,000. Crews Bank & Trust purchased a new position in shares of General Motors in the 4th quarter worth about $26,000. Compass Planning Associates Inc purchased a new position in shares of General Motors in the 4th quarter worth about $27,000. Duncker Streett & Co. Inc. raised its holdings 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 worth $27,000 after purchasing an additional 498 shares during the period. Finally, Whittier Trust Co. raised its holdings 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 worth $27,000 after purchasing an additional 425 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on GM shares. The Goldman Sachs Group reduced their price target on General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Barclays cut shares of General Motors from an "overweight" rating to a "negative" rating in a research report on Tuesday, April 15th. TD Cowen started coverage on shares of General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 target price on the stock. UBS Group reissued a "neutral" rating and set a $51.00 target price (down from $64.00) on shares of General Motors in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, General Motors presently has a consensus rating of "Hold" and a consensus target price of $54.83.

General Motors Stock Performance

Shares of NYSE:GM traded up $0.23 on Friday, reaching $47.11. 8,103,590 shares of the company's stock were exchanged, compared to its average volume of 13,341,338. The firm has a market capitalization of $46.87 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 0.67 and a beta of 1.27. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The business's 50-day moving average is $46.87 and its two-hundred day moving average is $50.34. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, equities research analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.02%. General Motors's dividend payout ratio is currently 7.80%.

General Motors declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company's stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.72% of the company's stock.

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.