General Motors Company (NYSE:GM) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,651,891 shares of the auto manufacturer's stock after selling 65,239 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of General Motors worth $124,718,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of General Motors during the fourth quarter worth about $592,321,000. Assenagon Asset Management S.A. grew its holdings in shares of General Motors by 305.6% during the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after purchasing an additional 2,154,037 shares during the last quarter. Amundi grew its holdings in shares of General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC grew its holdings in shares of General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock worth $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of General Motors during the fourth quarter worth about $108,366,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

Shares of GM stock traded up $2.78 during midday trading on Tuesday, reaching $51.99. 13,735,248 shares of the company traded hands, compared to its average volume of 12,765,611. The firm's 50 day simple moving average is $48.15 and its two-hundred day simple moving average is $48.66. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. The firm has a market cap of $49.98 billion, a PE ratio of 7.49, a price-to-earnings-growth ratio of 1.32 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The company had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same period last year, the firm earned $2.62 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from General Motors's previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 6th. General Motors's dividend payout ratio (DPR) is presently 8.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Mizuho raised their price objective on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Barclays raised their price objective on General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Citigroup began coverage on shares of General Motors in a research note on Wednesday, April 23rd. They set a "buy" rating and a $62.00 target price for the company. Royal Bank Of Canada raised their price target on General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lowered their price target on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $53.35.

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.