Mitsubishi UFJ Asset Management Co. Ltd. Acquires 88,748 Shares of General Motors (NYSE:GM)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,768,244 shares of the auto manufacturer’s stock after buying an additional 88,748 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of General Motors worth $91,542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trust Point Inc. boosted its position in General Motors by 2.7% in the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after purchasing an additional 193 shares during the last quarter. Avestar Capital LLC lifted its stake in shares of General Motors by 2.3% in the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after purchasing an additional 213 shares during the period. Continuum Advisory LLC boosted its holdings in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after buying an additional 213 shares during the last quarter. Holistic Planning LLC grew its position in General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after buying an additional 214 shares during the period. Finally, Norden Group LLC increased its holdings in General Motors by 3.0% during the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock valued at $421,000 after buying an additional 229 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 7.3 %

Shares of GM opened at $47.24 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market capitalization of $47.00 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The business’s 50 day simple moving average is $48.97 and its 200-day simple moving average is $50.53.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, equities analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.02%. General Motors’s dividend payout ratio is currently 7.80%.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GM shares. Cowen assumed coverage on shares of General Motors in a research report on Thursday, March 6th. They set a “buy” rating for the company. The Goldman Sachs Group set a $73.00 price target on General Motors in a report on Saturday, March 1st. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, December 11th. TD Cowen assumed coverage on General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price objective for the company. Finally, StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $62.11.

General Motors 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.