General Motors (NYSE:GM) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,452,694 shares of the auto manufacturer’s stock after selling 112,418 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.30% of General Motors worth $156,580,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado boosted its stake in General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after purchasing an additional 2,035,925 shares during the period. Handelsbanken Fonder AB lifted its stake in General Motors by 18.5% in the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after acquiring an additional 74,194 shares in the last quarter. US Bancorp DE boosted its position in General Motors by 59.3% during the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after acquiring an additional 32,331 shares during the period. GSA Capital Partners LLP grew its stake in General Motors by 317.6% during the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after acquiring an additional 51,571 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of General Motors by 361.1% in the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after purchasing an additional 93,754 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Insider Transactions at General Motors

In other General Motors news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the transaction, the president now owns 162,049 shares in the company, valued at approximately $7,455,874.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the sale, the president now directly owns 162,049 shares of the company’s stock, valued at approximately $7,455,874.49. The disclosure for this sale can be found here. Insiders sold a total of 1,152,621 shares of company stock worth $51,818,111 over the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Stock Down 0.5 %

Shares of GM traded down $0.24 during midday trading on Wednesday, hitting $46.71. The stock had a trading volume of 1,722,414 shares, compared to its average volume of 15,992,043. The firm has a market cap of $53.29 billion, a price-to-earnings ratio of 5.72, a price-to-earnings-growth ratio of 0.49 and a beta of 1.43. The company has a 50 day simple moving average of $45.70 and a two-hundred day simple moving average of $41.61. General Motors has a twelve month low of $26.30 and a twelve month high of $49.35. 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 issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $2.21 EPS. On average, analysts anticipate that General Motors will post 9.43 EPS for the current year.

General Motors declared that its Board of Directors has approved a stock buyback program on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of recent research reports. Bank of America reaffirmed a “buy” rating and set a $75.00 price target on shares of General Motors in a research note on Wednesday, June 12th. Morgan Stanley raised their price objective on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Piper Sandler raised their price objective on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus target price of $54.91.

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.