Arizona State Retirement System cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 465,599 shares of the auto manufacturer’s stock after selling 2,382 shares during the quarter. Arizona State Retirement System’s holdings in General Motors were worth $15,677,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Qube Research & Technologies Ltd acquired a new position in General Motors in the 2nd quarter valued at $115,000. MUFG Americas Holdings Corp bought a new stake in General Motors in the 2nd quarter valued at $123,000. TRUE Private Wealth Advisors bought a new stake in General Motors in the 3rd quarter valued at $106,000. Kaizen Advisory LLC boosted its holdings in General Motors by 163.6% in the 2nd quarter. Kaizen Advisory LLC now owns 3,298 shares of the auto manufacturer’s stock valued at $130,000 after purchasing an additional 2,047 shares during the period. Finally, CWM LLC boosted its holdings in General Motors by 108.4% in the 2nd quarter. CWM LLC now owns 3,510 shares of the auto manufacturer’s stock valued at $138,000 after purchasing an additional 1,826 shares during the period. Institutional investors and hedge funds own 73.84% of the company’s stock.
GM has been the subject of a number of research reports. Zacks Investment Research raised shares of General Motors from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Bank of America reissued a “buy” rating and issued a $60.00 price target on shares of General Motors in a report on Wednesday, September 12th. Guggenheim reissued a “buy” rating and issued a $52.00 price target on shares of General Motors in a report on Friday, July 20th. JPMorgan Chase & Co. reduced their price target on shares of General Motors from $58.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $39.00 price target on shares of General Motors in a report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $46.64.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.53%. General Motors’s payout ratio is 22.96%.
General Motors Company Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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