Sumitomo Mitsui Trust Holdings Inc. Sells 112,418 Shares of General Motors (NYSE:GM)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,452,694 shares of the auto manufacturer’s stock after selling 112,418 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in General Motors were worth $156,580,000 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 bought a new stake in shares of General Motors in the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. boosted its stake in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares in the last quarter. Sachetta LLC purchased a new stake in General Motors during the 4th quarter valued at about $33,000. Bfsg LLC bought a new position in shares of General Motors in the fourth quarter worth approximately $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in General Motors in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 0.5 %

Shares of General Motors stock traded down $0.24 on Wednesday, reaching $46.71. The company had a trading volume of 1,722,414 shares, compared to its average volume of 15,992,043. The firm’s 50-day moving average price is $45.70 and its two-hundred day moving average price is $41.61. General Motors has a 1 year low of $26.30 and a 1 year high of $49.35. The firm has a market cap of $53.29 billion, a price-to-earnings ratio of 5.72, a P/E/G ratio of 0.49 and a beta of 1.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 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 company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. General Motors’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that General Motors will post 9.43 earnings per share for the current fiscal year.

General Motors announced that its board has approved a share buyback program on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors’s dividend payout ratio is presently 5.87%.

Insider Buying and Selling at General Motors

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other General Motors news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on GM shares. Deutsche Bank Aktiengesellschaft lifted their price objective on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Morgan Stanley raised their target price on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Barclays boosted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Mizuho raised their price target on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and a consensus target price of $54.91.

About General Motors

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.