General Motors Co. (GM) Stake Maintained by Utah Retirement Systems
Utah Retirement Systems held its position in General Motors Co. (NYSE:GM) (TSE:GMM.U) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 256,637 shares of the auto manufacturer’s stock at the end of the third quarter. Utah Retirement Systems’ holdings in General Motors were worth $8,153,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the stock. Janus Capital Management LLC raised its position in shares of General Motors by 38.3% in the second quarter. Janus Capital Management LLC now owns 21,555,499 shares of the auto manufacturer’s stock valued at $610,020,000 after buying an additional 5,969,449 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of General Motors during the second quarter valued at $129,483,000. Artemis Investment Management LLP raised its position in shares of General Motors by 126.9% in the second quarter. Artemis Investment Management LLP now owns 6,464,090 shares of the auto manufacturer’s stock valued at $182,903,000 after buying an additional 3,615,099 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of General Motors by 121.2% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,324,700 shares of the auto manufacturer’s stock valued at $150,689,000 after buying an additional 2,917,100 shares in the last quarter. Finally, Societe Generale acquired a new position in shares of General Motors during the second quarter valued at $44,507,000. Institutional investors and hedge funds own 70.71% of the company’s stock.
General Motors Co. (NYSE:GM) traded up 0.362% on Wednesday, reaching $34.695. The company had a trading volume of 8,680,007 shares. General Motors Co. has a 52-week low of $26.69 and a 52-week high of $36.52. The stock has a 50 day moving average price of $32.29 and a 200 day moving average price of $31.18. The stock has a market capitalization of $52.89 billion, a PE ratio of 3.961 and a beta of 1.42.
General Motors (NYSE:GM) last issued its earnings results on Tuesday, October 25th. The auto manufacturer reported $1.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.28. General Motors had a net margin of 8.58% and a return on equity of 23.22%. The company earned $42.80 billion during the quarter, compared to analysts’ expectations of $39.11 billion. During the same period last year, the company posted $1.50 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Analysts expect that General Motors Co. will post $6.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Wednesday, December 7th will be issued a $0.38 dividend. The ex-dividend date is Monday, December 5th. This represents a $1.52 dividend on an annualized basis and a yield of 4.40%. General Motors’s dividend payout ratio (DPR) is presently 17.41%.
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Several equities research analysts have commented on GM shares. Berenberg Bank reiterated a “sell” rating and set a $29.00 price objective on shares of General Motors in a research note on Monday. Vetr upgraded General Motors from a “sell” rating to a “hold” rating and set a $33.71 price objective for the company in a research note on Thursday, November 24th. reiterated a “strong-buy” rating on shares of General Motors in a research note on Thursday, November 10th. Nomura set a $33.00 price objective on General Motors and gave the stock a “hold” rating in a research note on Thursday, October 27th. Finally, Bank of America Corp. lowered General Motors from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $26.69 to $31.60 in a research note on Wednesday, October 26th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. General Motors currently has a consensus rating of “Hold” and a consensus price target of $36.06.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
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