Mitsubishi UFJ Trust & Banking Corp Has $58.07 Million Stake in General Motors (NYSE:GM)

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.1% during the first quarter, HoldingsChannel reports. The firm owned 1,279,934 shares of the auto manufacturer’s stock after acquiring an additional 84,697 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in General Motors were worth $58,071,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GM. LifeSteps Financial Inc. bought a new stake in shares of General Motors during the first quarter worth $25,000. Highlander Capital Management LLC bought a new position in General Motors during the 4th quarter worth about $27,000. Cape Investment Advisory Inc. raised its stake in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 359 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of General Motors in the 1st quarter valued at about $30,000. Finally, YHB Investment Advisors Inc. bought a new stake in shares of General Motors in the first quarter valued at about $32,000. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of GM traded down $1.35 during trading hours on Friday, hitting $48.30. The company had a trading volume of 16,931,003 shares, compared to its average volume of 13,097,903. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The business has a fifty day moving average of $46.43 and a 200-day moving average of $42.66. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The firm has a market cap of $55.11 billion, a price-to-earnings ratio of 5.90, a PEG ratio of 0.51 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter in the previous year, the business posted $2.21 earnings per share. General Motors’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts anticipate that General Motors will post 9.43 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were given a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s payout ratio is 5.87%.

General Motors declared that its board has initiated a share buyback plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Mizuho increased their price objective on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Sanford C. Bernstein started coverage on shares of General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective on the stock. StockNews.com upgraded shares of General Motors from a “hold” rating to a “buy” rating in a report on Saturday, June 1st. UBS Group lifted their price target on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Wedbush increased their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.96.

Insider Activity at General Motors

In other General Motors news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other General Motors news, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now directly owns 162,049 shares in the company, valued at $7,455,874.49. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,152,621 shares of company stock worth $51,818,111. 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.