Mitsubishi UFJ Trust & Banking Corp Has $67.90 Million Holdings in General Motors (NYSE:GM)

Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 48.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,274,671 shares of the auto manufacturer’s stock after buying an additional 418,380 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.13% of General Motors worth $67,902,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Amundi grew 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 valued at $250,627,000 after acquiring an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC grew its position in 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 during the period. Raymond James Financial Inc. bought a new stake in General Motors during the 4th quarter valued at $108,366,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in General Motors by 972.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after buying an additional 1,906,964 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of General Motors by 158.8% in the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after buying an additional 1,332,450 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Cowen began 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 target on General Motors in a research report on Saturday, March 1st. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Finally, StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.06.

General Motors Stock Performance

NYSE GM opened at $52.62 on Wednesday. The firm has a market cap of $52.36 billion, a P/E ratio of 8.56, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company’s 50 day moving average is $49.08 and its 200-day moving average is $50.55. 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 posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) 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 predict that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued 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 of this dividend was Friday, March 7th. General Motors’s payout ratio is presently 7.80%.

General Motors declared that its board has approved a stock buyback program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

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.