Kentucky Retirement Systems Insurance Trust Fund Has $1.49 Million Stock Position in General Motors (NYSE:GM)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 9.6% during the third quarter, Holdings Channel.com reports. The firm owned 33,276 shares of the auto manufacturer’s stock after selling 3,525 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in General Motors were worth $1,492,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GM. Capital World Investors boosted its position in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares during the last quarter. Swedbank AB bought a new position in shares of General Motors in the first quarter valued at $159,750,000. Artemis Investment Management LLP grew its stake in shares of General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after buying an additional 1,366,768 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after buying an additional 1,091,137 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in General Motors by 3,333.1% during the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after acquiring an additional 760,523 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

GM has been the subject of a number of analyst reports. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. Wells Fargo & Company lifted their price target on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Barclays upped their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and an average target price of $56.92.

General Motors Stock Performance

NYSE:GM opened at $57.04 on Friday. The company has a market cap of $62.72 billion, a price-to-earnings ratio of 6.08, a PEG ratio of 0.44 and a beta of 1.40. General Motors has a fifty-two week low of $27.42 and a fifty-two week high of $59.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The stock has a fifty day moving average price of $49.72 and a 200-day moving average price of $47.30.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the prior year, the business posted $2.28 earnings per share. General Motors’s revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is presently 5.12%.

Insider Buying and Selling at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 42.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The trade was a 60.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is currently owned by corporate insiders.

General Motors Company 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.