Sumitomo Mitsui Trust Group Inc. Sells 48,896 Shares of General Motors (NYSE:GM)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,717,130 shares of the auto manufacturer’s stock after selling 48,896 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of General Motors worth $144,742,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of General Motors by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after purchasing an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of General Motors by 6.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after buying an additional 989,750 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in shares of General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after buying an additional 421,989 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of General Motors by 6.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after acquiring an additional 358,507 shares during the period. Finally, Ninety One UK Ltd grew its stake in General Motors by 38.7% during the fourth quarter. Ninety One UK Ltd now owns 4,089,633 shares of the auto manufacturer’s stock valued at $217,855,000 after acquiring an additional 1,140,569 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their target price on General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Sanford C. Bernstein lifted their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Wednesday, December 11th. Finally, UBS Group upped their price objective on General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $61.28.

General Motors Stock Performance

General Motors stock opened at $47.35 on Friday. 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 firm has a market cap of $47.12 billion, a P/E ratio of 7.70, a P/E/G ratio of 0.69 and a beta of 1.40. General Motors has a 1-year low of $37.83 and a 1-year high of $61.24. The firm has a 50-day moving average of $51.96 and a 200-day moving average of $49.91.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts expect that General Motors will post 11.41 EPS for the current year.

General Motors Dividend Announcement

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

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost 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 trade represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.