Maryland State Retirement & Pension System Sells 6,384 Shares of General Motors (NYSE:GM)

Maryland State Retirement & Pension System lowered its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 58,399 shares of the auto manufacturer’s stock after selling 6,384 shares during the period. Maryland State Retirement & Pension System’s holdings in General Motors were worth $3,111,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in General Motors during the fourth quarter worth $25,000. Crews Bank & Trust bought a new position in General Motors during the fourth quarter worth $26,000. Compass Planning Associates Inc bought a new position in General Motors during the fourth quarter worth $27,000. Duncker Streett & Co. Inc. raised its stake in General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after buying an additional 498 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in General Motors during the fourth quarter worth $28,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group reiterated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and upped their price objective for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, The Goldman Sachs Group set a $73.00 price objective on shares of General Motors in a report on Saturday, March 1st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average price target of $63.06.

General Motors Stock Down 0.7 %

General Motors stock opened at $49.46 on Friday. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The firm has a 50 day moving average price of $49.02 and a 200-day moving average price of $50.46. The company has a market capitalization of $49.21 billion, a P/E ratio of 8.04, a P/E/G ratio of 0.67 and a beta of 1.42. 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) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating 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 analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

General Motors announced that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

About General Motors

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.