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

MassMutual Private Wealth & Trust FSB reduced its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 33.3% in the 1st quarter, according to its most recent filing with the 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 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock valued at $488,000 after acquiring an additional 1,510 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of General Motors during the 4th quarter valued at $25,404,000. SYM FINANCIAL Corp acquired a new position in shares of General Motors during the 4th quarter valued at $474,000. Asset Management One Co. Ltd. lifted its holdings in shares of General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock valued at $25,178,000 after acquiring an additional 39,474 shares in the last quarter. Finally, Avantra Family Wealth Inc. acquired a new position in General Motors in the 4th quarter worth $1,044,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Citigroup assumed coverage on shares of General Motors in a report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective on the stock. in a report on Monday, April 14th. Wall Street Zen lowered shares of General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Wedbush cut their price objective on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has an average rating of "Hold" and an average price target of $54.56.

General Motors Stock Performance

General Motors stock traded up $0.99 on Friday, reaching $49.58. 17,702,817 shares of the stock were exchanged, compared to its average volume of 13,240,778. The firm has a fifty day moving average price of $46.80 and a two-hundred day moving average price of $49.69. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a market cap of $47.67 billion, a PE ratio of 8.06, a PEG ratio of 0.67 and a beta of 1.36.

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. The company had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The business's revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.62 EPS. Sell-side analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is presently 8.65%.

General Motors announced that its board has authorized a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

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.