General Motors (NYSE:GM) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 38.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,750,082 shares of the auto manufacturer’s stock after acquiring an additional 485,264 shares during the quarter. Teacher Retirement System of Texas’ holdings in General Motors were worth $93,227,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its position in General Motors by 1.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 52,193 shares of the auto manufacturer’s stock worth $2,340,000 after purchasing an additional 539 shares during the last quarter. Caprock Group LLC grew its holdings in General Motors by 15.3% during the third quarter. Caprock Group LLC now owns 29,402 shares of the auto manufacturer’s stock worth $1,318,000 after acquiring an additional 3,899 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of General Motors by 1,167.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 12,920 shares of the auto manufacturer’s stock valued at $579,000 after purchasing an additional 11,901 shares during the period. Prospera Financial Services Inc grew its position in General Motors by 25.7% during the third quarter. Prospera Financial Services Inc now owns 24,891 shares of the auto manufacturer’s stock valued at $1,116,000 after buying an additional 5,089 shares during the period. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of General Motors by 2.3% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 18,581 shares of the auto manufacturer’s stock worth $833,000 after buying an additional 416 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

NYSE:GM opened at $49.84 on Thursday. The stock has a market capitalization of $49.59 billion, a P/E ratio of 8.10, a PEG ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a 50 day moving average price of $49.05 and a 200 day moving average price of $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data 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 forecast that General Motors will post 11.44 EPS for the current year.

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

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.96%. General Motors’s dividend payout ratio is presently 7.80%.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their target price for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. Mizuho raised their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Finally, TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.89.

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.