General Motors (NYSE:GM) Shares Bought by South Dakota Investment Council

South Dakota Investment Council raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 6.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 89,053 shares of the auto manufacturer’s stock after acquiring an additional 5,500 shares during the period. South Dakota Investment Council’s holdings in General Motors were worth $3,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Highlander Capital Management LLC acquired a new stake in shares of General Motors in the fourth quarter valued at about $27,000. SouthState Corp lifted its stake in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of General Motors in the fourth quarter valued at about $36,000. BluePath Capital Management LLC acquired a new stake in shares of General Motors in the third quarter valued at about $33,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of General Motors by 74.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,229 shares of the auto manufacturer’s stock valued at $44,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Royal Bank of Canada raised their target price on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group raised their target price on shares of General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley raised their target price on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group raised their target price on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.38.

General Motors Price Performance

GM opened at $45.07 on Thursday. The company’s 50 day simple moving average is $42.00 and its 200 day simple moving average is $36.12. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04. The stock has a market capitalization of $52.03 billion, a PE ratio of 5.51, a P/E/G ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the company earned $2.21 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that General Motors will post 9.26 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. General Motors’s dividend payout ratio is presently 5.87%.

Insider Buying and Selling

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The sale was disclosed in a filing with the SEC, which is available at this link. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

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.