General Motors (NYSE:GM) Stock Position Decreased by California State Teachers Retirement System

Posted by Defense World Staff on Mar 16th, 2023

California State Teachers Retirement System lessened its holdings in shares of General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,368,039 shares of the auto manufacturer’s stock after selling 20,897 shares during the period. California State Teachers Retirement System owned 0.17% of General Motors worth $75,990,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GM. Parkside Financial Bank & Trust increased its stake in General Motors by 3.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 8,871 shares of the auto manufacturer’s stock valued at $285,000 after buying an additional 265 shares during the period. Weik Capital Management increased its stake in General Motors by 3.1% in the 1st quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock valued at $397,000 after buying an additional 275 shares during the period. Penserra Capital Management LLC increased its stake in General Motors by 85.8% in the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 283 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in General Motors by 2.4% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,755 shares of the auto manufacturer’s stock valued at $557,000 after buying an additional 294 shares during the period. Finally, Signature Wealth Management Partners LLC increased its stake in General Motors by 2.5% in the 3rd quarter. Signature Wealth Management Partners LLC now owns 12,429 shares of the auto manufacturer’s stock valued at $399,000 after buying an additional 300 shares during the period. Institutional investors own 78.92% of the company’s stock.

Insider Transactions at General Motors

In other news, EVP Gerald Johnson sold 15,743 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $42.65, for a total transaction of $671,438.95. Following the completion of the transaction, the executive vice president now directly owns 71,209 shares of the company’s stock, valued at approximately $3,037,063.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Gerald Johnson sold 15,743 shares of the firm’s stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $42.65, for a total transaction of $671,438.95. Following the completion of the transaction, the executive vice president now directly owns 71,209 shares of the company’s stock, valued at approximately $3,037,063.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen K. Carlisle sold 18,000 shares of General Motors stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $41.97, for a total transaction of $755,460.00. Following the transaction, the executive vice president now directly owns 46,170 shares of the company’s stock, valued at $1,937,754.90. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of General Motors from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 1st. Citigroup increased their price target on shares of General Motors from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. Barclays assumed coverage on shares of General Motors in a research note on Tuesday, February 14th. They set an “equal weight” rating and a $46.00 price target on the stock. Berenberg Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and dropped their price target for the stock from $45.00 to $41.00 in a research note on Monday, January 30th. Finally, JPMorgan Chase & Co. dropped their price target on shares of General Motors from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.06.

General Motors Price Performance

Shares of General Motors stock opened at $34.33 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.10 and a quick ratio of 0.93. General Motors has a fifty-two week low of $30.33 and a fifty-two week high of $46.74. The firm has a fifty day moving average price of $38.80 and a two-hundred day moving average price of $37.78. The company has a market cap of $47.88 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.60 and a beta of 1.36.

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 31st. The auto manufacturer reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.44. General Motors had a net margin of 6.34% and a return on equity of 16.08%. The firm had revenue of $43.11 billion during the quarter, compared to the consensus estimate of $40.62 billion. During the same period in the prior year, the firm earned $1.35 EPS. The business’s revenue was up 28.4% on a year-over-year basis. Analysts expect that General Motors will post 6.21 EPS for the current year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Friday, March 3rd will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, March 2nd. General Motors’s payout ratio is 5.87%.

General Motors Company Profile

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General Motors Co engages in the designing, manufacturing, and selling of trucks, crossovers, cars, and automobile parts and in providing software-enabled services and subscriptions. It operates through the following segments: GMNA, GMI, Cruise, and GM Financial. The company was founded by William C.