Sumitomo Mitsui Trust Group Inc. Has $124.03 Million Stock Holdings in General Motors (NYSE:GM)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,766,026 shares of the auto manufacturer’s stock after selling 2,693 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of General Motors worth $124,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in General Motors during the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors during the third quarter worth approximately $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors during the second quarter valued at approximately $28,000. Fortitude Family Office LLC raised its position in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the last quarter. Finally, EdgeRock Capital LLC acquired a new position in General Motors during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GM. Royal Bank of Canada lifted their target price on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research report on Monday, August 5th. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Friday, October 11th. Wolfe Research initiated coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.92.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 653,511 shares of company stock valued at $35,012,844. Insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.5 %

NYSE:GM opened at $57.72 on Thursday. The company has a market cap of $63.47 billion, a P/E ratio of 6.15, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. General Motors has a twelve month low of $27.41 and a twelve month high of $58.42. The business has a 50 day moving average price of $49.15 and a two-hundred day moving average price of $47.06. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS 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 company posted $2.28 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. As a group, analysts expect that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.83%. General Motors’s payout ratio is presently 5.12%.

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.