Mitsubishi UFJ Asset Management Co. Ltd. Acquires 88,748 Shares of General Motors (NYSE:GM)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,768,244 shares of the auto manufacturer’s stock after purchasing an additional 88,748 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in General Motors were worth $91,542,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew 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 purchasing an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake 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. ACR Alpine Capital Research LLC increased its stake in shares of General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after buying an additional 2,104,528 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings 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 in the last quarter. Finally, Amundi lifted its stake in General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after acquiring an additional 2,113,973 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on GM. Mizuho lifted their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group set a $73.00 price target on General Motors in a report on Saturday, March 1st. TD Cowen started coverage on General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price objective for the company. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Wednesday, December 11th. Three 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. According to data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus price target of $62.11.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 7.3 %

General Motors stock opened at $47.24 on Friday. The stock has a 50-day moving average price of $48.97 and a 200 day moving average price of $50.53. The company has a market capitalization of $47.00 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Sell-side analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

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. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.02%. General Motors’s payout ratio is currently 7.80%.

General Motors declared that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

About General Motors

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.