General Motors Company (GM) Position Boosted by California Public Employees Retirement System
California Public Employees Retirement System increased its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,350,800 shares of the auto manufacturer’s stock after acquiring an additional 25,700 shares during the quarter. California Public Employees Retirement System owned about 0.23% of General Motors worth $117,043,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Intrust Bank NA lifted its stake in shares of General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after acquiring an additional 25 shares during the period. IFC Holdings Incorporated FL lifted its stake in shares of General Motors by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock worth $1,120,000 after acquiring an additional 88 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of General Motors by 1.8% in the second quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock worth $230,000 after acquiring an additional 115 shares during the period. Alpha Windward LLC lifted its stake in shares of General Motors by 2.3% in the second quarter. Alpha Windward LLC now owns 5,542 shares of the auto manufacturer’s stock worth $194,000 after acquiring an additional 125 shares during the period. Finally, Heritage Investors Management Corp lifted its stake in shares of General Motors by 0.3% in the second quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock worth $1,735,000 after acquiring an additional 130 shares during the period. 72.21% of the stock is currently owned by institutional investors.
Shares of General Motors Company (NYSE:GM) traded up 0.167% during midday trading on Thursday, reaching $38.945. The company had a trading volume of 4,241,029 shares. The company has a 50-day moving average price of $36.19 and a 200 day moving average price of $35.09. The company has a market capitalization of $56.75 billion, a P/E ratio of 6.771 and a beta of 1.44. General Motors Company has a one year low of $30.21 and a one year high of $39.24.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion during the quarter, compared to analysts’ expectations of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 earnings per share. Equities analysts anticipate that General Motors Company will post $6.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s payout ratio is 26.48%.
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GM has been the topic of a number of recent analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $44.00 price objective on shares of General Motors in a research note on Tuesday, September 12th. BidaskClub lowered General Motors from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Berenberg Bank set a $31.00 price objective on General Motors and gave the stock a “sell” rating in a research note on Monday, August 14th. Standpoint Research lowered General Motors from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Finally, Buckingham Research reissued a “neutral” rating and issued a $33.00 price target on shares of General Motors in a research note on Friday, September 8th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. General Motors has a consensus rating of “Buy” and a consensus price target of $39.11.
In other General Motors news, insider Alan S. Batey sold 234,274 shares of General Motors stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $38.04, for a total transaction of $8,911,782.96. Following the completion of the transaction, the insider now owns 67,548 shares in the company, valued at $2,569,525.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patricia F. Russo acquired 10,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were bought at an average price of $34.73 per share, with a total value of $347,300.00. Following the purchase, the director now directly owns 12,300 shares of the company’s stock, valued at approximately $427,179. The disclosure for this purchase can be found here. Insiders have sold 614,947 shares of company stock valued at $22,402,528 in the last quarter. 0.04% of the stock is owned by company insiders.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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