Mitsubishi UFJ Asset Management Co. Ltd. Has $86.28 Million Position in General Motors Company (NYSE:GM)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its stake in General Motors by 3.7%, now owning approximately 1.83 million shares valued at $86.27 million.
• General Motors announced a quarterly dividend of $0.15 per share, which will yield 1.1% annually, payable on September 18th to shareholders of record by September 5th.
• Analysts' price targets for General Motors stock have been adjusted, with UBS setting it at $56 and JPMorgan at $60, while the average target price is currently $57.53.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 3.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,834,503 shares of the auto manufacturer's stock after buying an additional 66,259 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of General Motors worth $86,277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GM. Vanguard Group Inc. lifted its position in shares of General Motors by 6.9% in the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock worth $4,672,023,000 after purchasing an additional 6,395,375 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of General Motors by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after purchasing an additional 228,408 shares in the last quarter. Northern Trust Corp lifted its position in shares of General Motors by 8.1% in the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock worth $582,251,000 after purchasing an additional 822,454 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of General Motors by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,447,099 shares of the auto manufacturer's stock worth $444,297,000 after purchasing an additional 1,020,386 shares in the last quarter. Finally, ACR Alpine Capital Research LLC lifted its position in shares of General Motors by 4.0% in the first quarter. ACR Alpine Capital Research LLC now owns 7,691,140 shares of the auto manufacturer's stock worth $361,714,000 after purchasing an additional 293,736 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Transactions at General Motors

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the sale, the executive vice president directly owned 8,513 shares in the company, valued at $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by insiders.

General Motors Stock Performance

NYSE:GM traded up $1.40 during mid-day trading on Wednesday, reaching $55.56. 3,784,971 shares of the company's stock were exchanged, compared to its average volume of 11,954,248. The firm has a market capitalization of $52.90 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 1.14 and a beta of 1.36. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. General Motors Company has a one year low of $41.60 and a one year high of $61.24. The business's fifty day simple moving average is $51.18 and its two-hundred day simple moving average is $48.82.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.06 earnings per share. Analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio is presently 9.52%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 23rd. Wedbush reiterated an "outperform" rating and issued a $55.00 price target on shares of General Motors in a research note on Wednesday, July 23rd. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research note on Friday, July 11th. Royal Bank Of Canada reiterated an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. Finally, Piper Sandler restated a "neutral" rating and issued a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $57.53.

General Motors Company 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.