General Motors (NYSE:GM) Position Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 0.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 146,395 shares of the auto manufacturer’s stock after acquiring an additional 1,336 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in General Motors were worth $7,798,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GM. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of General Motors by 972.6% in the 3rd 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 acquiring an additional 1,906,964 shares during the last quarter. Jennison Associates LLC increased its stake in General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after purchasing an additional 1,779,897 shares in the last quarter. National Bank of Canada FI raised its holdings in General Motors by 158.8% during the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after buying an additional 1,332,450 shares during the period. Ninety One UK Ltd lifted 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 buying an additional 1,140,569 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after buying an additional 989,750 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GM shares. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and boosted their target price for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Barclays lifted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein increased their price objective on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Finally, UBS Group lifted their target price on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors currently has an average rating of “Hold” and a consensus price target of $61.28.

General Motors Price Performance

NYSE GM opened at $47.35 on Friday. General Motors has a fifty-two week low of $37.83 and a fifty-two week high of $61.24. The stock’s 50-day moving average is $51.96 and its two-hundred day moving average is $49.91. The firm has a market cap of $47.12 billion, a P/E ratio of 7.70, a price-to-earnings-growth ratio of 0.69 and a beta of 1.40. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, analysts anticipate that General Motors will post 11.41 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. General Motors’s payout ratio is presently 7.80%.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred 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 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 ownership of the stock. The disclosure for this sale can be found here. 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.