MassMutual Private Wealth & Trust FSB Sells 32,637 Shares of General Motors (NYSE:GM)

MassMutual Private Wealth & Trust FSB lessened its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 33.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,372 shares of the auto manufacturer's stock after selling 32,637 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in General Motors were worth $3,074,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC purchased a new position in shares of General Motors in the 4th quarter worth approximately $25,000. Crews Bank & Trust purchased a new position in shares of General Motors in the 4th quarter worth approximately $26,000. Measured Risk Portfolios Inc. purchased a new position in shares of General Motors in the 4th quarter worth approximately $27,000. Compass Planning Associates Inc purchased a new position in shares of General Motors in the 4th quarter worth approximately $27,000. Finally, Whittier Trust Co. grew its position in shares of General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

Analyst Ratings Changes

GM has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Wedbush decreased their price objective on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. JPMorgan Chase & Co. decreased their price objective on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Mizuho lifted their price objective on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Citigroup assumed coverage on shares of General Motors in a research note on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $54.56.

General Motors Price Performance

Shares of GM traded up $0.84 on Tuesday, hitting $48.53. The company's stock had a trading volume of 4,094,697 shares, compared to its average volume of 13,204,513. The company has a market capitalization of $46.66 billion, a PE ratio of 7.89, a PEG ratio of 0.67 and a beta of 1.36. 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 has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a 50 day moving average price of $46.74 and a 200 day moving average price of $49.51.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter in the prior year, the business earned $2.62 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its board has initiated a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a $0.15 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is currently 8.65%.

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.