Teachers Retirement System of The State of Kentucky reduced its holdings in shares of General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,234 shares of the auto manufacturer’s stock after selling 4,014 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in General Motors were worth $4,034,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. acquired a new position in shares of General Motors during the first quarter valued at about $26,000. Penserra Capital Management LLC boosted its holdings in General Motors by 85.8% during the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 283 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in General Motors by 220.2% during the first quarter. SJS Investment Consulting Inc. now owns 602 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 414 shares during the last quarter. Tyler Stone Wealth Management purchased a new position in General Motors during the fourth quarter worth about $34,000. Finally, Tcwp LLC purchased a new position in General Motors during the first quarter worth about $34,000. 79.59% of the stock is currently owned by institutional investors and hedge funds.
General Motors Stock Performance
NYSE GM opened at $39.97 on Monday. The company’s 50 day moving average is $37.30 and its 200-day moving average is $38.09. General Motors has a 12-month low of $30.33 and a 12-month high of $67.21. The company has a quick ratio of 0.93, a current ratio of 1.15 and a debt-to-equity ratio of 1.14. The firm has a market cap of $58.28 billion, a P/E ratio of 7.58, a price-to-earnings-growth ratio of 0.60 and a beta of 1.23.
General Motors Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, August 30th. General Motors’s dividend payout ratio (DPR) is presently 6.83%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on GM shares. Wells Fargo & Company cut their price target on shares of General Motors from $33.00 to $29.00 and set an “underweight” rating on the stock in a report on Monday, July 11th. Barclays restated a “buy” rating and set a $52.00 price target on shares of General Motors in a report on Friday, July 1st. Wolfe Research boosted their price target on shares of General Motors from $42.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, September 6th. Wedbush cut their price target on shares of General Motors from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Finally, Morgan Stanley lowered their price objective on shares of General Motors from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, General Motors has an average rating of “Moderate Buy” and an average price target of $55.78.
General Motors Profile
General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.
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