General Motors Company (NYSE:GM) Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. has increased its position in General Motors by 5.7% in the first quarter, totaling $17.95 million, with over 381,970 shares owned after purchasing an additional 20,450 shares.
• Several institutional investors are actively adjusting their holdings in General Motors, notably Vanguard Group, which increased its shares by 6.9%, now owning over 99 million shares valued at approximately $4.67 billion.
• General Motors recently announced a quarterly dividend of $0.15 per share, representing an annualized yield of 1.1%, with the ex-dividend date set for September 5th.

Resona Asset Management Co. Ltd. boosted its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 381,970 shares of the auto manufacturer's stock after purchasing an additional 20,450 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in General Motors were worth $17,946,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GM. Measured Risk Portfolios Inc. purchased a new stake in General Motors in the fourth quarter worth about $27,000. Costello Asset Management INC acquired a new stake in shares of General Motors during the 1st quarter worth approximately $32,000. Transce3nd LLC purchased a new position in shares of General Motors during the 4th quarter valued at approximately $34,000. North Capital Inc. purchased a new position in shares of General Motors during the 1st quarter valued at approximately $40,000. Finally, Ossiam acquired a new stake in General Motors in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GM. Citigroup increased their price objective on General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a research report on Friday, July 11th. BNP Paribas raised shares of General Motors to a "strong-buy" rating in a research report on Monday, May 5th. CLSA raised General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Finally, Barclays boosted their price objective on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $57.53.

Insider Transactions at General Motors

In other General Motors news, CAO Christopher Hatto sold 36,804 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total value of $2,027,900.40. Following the sale, the chief accounting officer directly owned 12,007 shares of the company's stock, valued at approximately $661,585.70. This trade represents a 75.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.

General Motors Price Performance

General Motors stock traded down $0.11 during midday trading on Friday, reaching $56.31. 5,594,331 shares of the company were exchanged, compared to its average volume of 9,995,043. The company has a market capitalization of $53.61 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 1.19 and a beta of 1.36. The firm's 50-day simple moving average is $51.70 and its 200-day simple moving average is $48.92. General Motors Company has a 1 year low of $41.60 and a 1 year high of $61.24. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results 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. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same period last year, the company earned $3.06 EPS. The firm's quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

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

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.