Mitsubishi UFJ Asset Management Co. Ltd. Purchases 66,259 Shares of General Motors Company (NYSE:GM)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in General Motors Company (NYSE:GM) (TSE:GMM.U) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,834,503 shares of the auto manufacturer’s stock after acquiring an additional 66,259 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in General Motors were worth $86,277,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GM. Susquehanna Fundamental Investments LLC bought a new stake in shares of General Motors during the 4th quarter valued at $25,404,000. Cassia Capital Partners LLC raised its position in shares of General Motors by 63.0% during the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer’s stock valued at $879,000 after acquiring an additional 7,221 shares during the last quarter. AustralianSuper Pty Ltd raised its position in shares of General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock valued at $287,428,000 after acquiring an additional 1,712,033 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of General Motors during the 1st quarter valued at $312,000. Finally, Malaga Cove Capital LLC bought a new stake in shares of General Motors during the 1st quarter valued at $292,000. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on GM. BNP Paribas upgraded shares of General Motors to a “strong-buy” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. upped their target price on shares of General Motors from $56.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Royal Bank Of Canada reiterated an “outperform” rating on shares of General Motors in a research report on Thursday, July 24th. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of General Motors in a report on Wednesday, July 23rd. Finally, Benchmark assumed coverage on shares of General Motors in a report on Monday, July 21st. They issued a “buy” rating and a $65.00 price target for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus price target of $57.53.

General Motors Trading Up 1.1%

Shares of NYSE:GM opened at $53.52 on Friday. General Motors Company has a 52-week low of $41.60 and a 52-week high of $61.24. The company has a market capitalization of $50.96 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 1.12 and a beta of 1.36. The company has a 50-day simple moving average of $50.95 and a 200 day simple moving average of $48.84. 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) (TSE:GMM.U) last issued its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same period last year, the business posted $3.06 EPS. General Motors’s revenue was down 1.8% on a year-over-year basis. Sell-side analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors’s dividend payout ratio is currently 9.52%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the 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 transaction, the executive vice president directly owned 8,513 shares of the company’s stock, valued at $451,274.13. This represents a 73.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

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.