State of New Jersey Common Pension Fund D Has $21.92 Million Holdings in General Motors (NYSE:GM)

State of New Jersey Common Pension Fund D trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 411,523 shares of the auto manufacturer’s stock after selling 4,750 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in General Motors were worth $21,922,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in General Motors in the fourth quarter valued at $25,000. Crews Bank & Trust bought a new stake in General Motors during the 4th quarter worth approximately $26,000. Catalyst Capital Advisors LLC bought a new stake in General Motors during the 3rd quarter worth approximately $27,000. Truvestments Capital LLC acquired a new stake in General Motors during the 3rd quarter valued at $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in General Motors in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of GM stock opened at $48.33 on Tuesday. 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 has a 12 month low of $38.13 and a 12 month high of $61.24. The company’s fifty day simple moving average is $51.16 and its 200-day simple moving average is $50.06. The firm has a market cap of $48.09 billion, a PE ratio of 7.86, a P/E/G ratio of 0.68 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly 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 return on equity of 15.29% and a net margin of 3.21%. Equities research analysts expect that General Motors will post 11.28 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s payout ratio is 7.80%.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the topic of a number of research reports. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and upped their target price for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada raised their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Barclays raised their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Motors presently has an average rating of “Hold” and an average target price of $59.71.

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.