Sumitomo Mitsui Trust Group Inc. Lowers Holdings in General Motors (NYSE:GM)

Sumitomo Mitsui Trust Group Inc. reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,717,130 shares of the auto manufacturer’s stock after selling 48,896 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in General Motors were worth $144,742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GM. Dynamic Advisor Solutions LLC raised its holdings in General Motors by 2.2% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 14,832 shares of the auto manufacturer’s stock worth $665,000 after acquiring an additional 314 shares during the last quarter. Atomi Financial Group Inc. raised its stake in shares of General Motors by 10.4% in the third quarter. Atomi Financial Group Inc. now owns 9,436 shares of the auto manufacturer’s stock worth $423,000 after purchasing an additional 888 shares during the last quarter. CWM LLC lifted its holdings in shares of General Motors by 17.8% during the third quarter. CWM LLC now owns 57,583 shares of the auto manufacturer’s stock valued at $2,582,000 after purchasing an additional 8,700 shares in the last quarter. Wedmont Private Capital increased its holdings in General Motors by 8.7% in the 3rd quarter. Wedmont Private Capital now owns 8,886 shares of the auto manufacturer’s stock worth $409,000 after buying an additional 712 shares in the last quarter. Finally, Pinnacle Bancorp Inc. raised its position in General Motors by 16.2% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 6,830 shares of the auto manufacturer’s stock worth $306,000 after buying an additional 950 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GM shares. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Friday, October 11th. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Mizuho boosted their target price on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. raised their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Wedbush upped their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.28.

General Motors Stock Performance

Shares of NYSE GM opened at $47.35 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a 1 year low of $37.83 and a 1 year high of $61.24. The firm has a fifty day moving average price of $51.96 and a 200-day moving average price of $49.91. The stock has a market cap of $47.12 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 0.69 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping 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 analysts anticipate that General Motors will post 11.41 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.01%. General Motors’s payout ratio is 7.80%.

General Motors 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.