Mitsubishi UFJ Trust & Banking Corp Grows Holdings in General Motors (NYSE:GM)

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 48.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,274,671 shares of the auto manufacturer’s stock after buying an additional 418,380 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in General Motors were worth $67,902,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in General Motors by 0.5% in the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after buying an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after acquiring an additional 989,750 shares during the last quarter. ACR Alpine Capital Research LLC boosted its stake in shares of General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after purchasing an additional 2,104,528 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of General Motors by 6.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after purchasing an additional 358,507 shares during the last quarter. Finally, Amundi raised its position in General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the period. 92.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GM shares. UBS Group restated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Cowen started coverage on General Motors in a research report on Thursday, March 6th. They set a “buy” rating on the stock. The Goldman Sachs Group set a $73.00 price objective on General Motors in a research report on Saturday, March 1st. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, TD Cowen started coverage on shares of General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.06.

General Motors Stock Performance

Shares of GM stock opened at $52.62 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company’s fifty day moving average price is $49.08 and its 200-day moving average price is $50.55. The stock has a market cap of $52.36 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, equities analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Friday, March 7th. General Motors’s payout ratio is 7.80%.

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.