General Motors (NYSE:GM) Stock Position Decreased by Utah Retirement Systems

Utah Retirement Systems reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 181,345 shares of the auto manufacturer’s stock after selling 3,600 shares during the quarter. Utah Retirement Systems’ holdings in General Motors were worth $9,660,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Golden State Wealth Management LLC purchased a new position in General Motors during the fourth quarter valued at approximately $25,000. Crews Bank & Trust acquired a new position in shares of General Motors in the fourth quarter worth $26,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors during the fourth quarter worth $27,000. Whittier Trust Co. boosted its position in General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 425 shares during the last quarter. Finally, Duncker Streett & Co. Inc. increased its position in 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 last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on GM shares. JPMorgan Chase & Co. lowered their price target on General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 price target on the stock. Sanford C. Bernstein cut shares of General Motors from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $50.00 to $35.00 in a report on Monday, April 7th. Cowen started coverage on General Motors in a report on Thursday, March 6th. They set a “buy” rating on the stock. Finally, UBS Group reiterated a “neutral” rating and set a $51.00 price target (down previously from $64.00) on shares of General Motors in a research note on Thursday, April 10th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $54.83.

General Motors Stock Down 3.5 %

GM opened at $45.28 on Thursday. The company has a market capitalization of $43.75 billion, a P/E ratio of 7.36, a P/E/G ratio of 0.67 and a beta of 1.27. The firm’s fifty day moving average price is $46.82 and its two-hundred day moving average price is $50.27. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.62 earnings per share. On average, analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, June 6th. 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 1.33%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

General Motors declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.