Sumitomo Mitsui Asset Management Company LTD Increases Stake in General Motors (GM)

Sumitomo Mitsui Asset Management Company LTD increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 168,507 shares of the auto manufacturer’s stock after purchasing an additional 15,530 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in General Motors were worth $6,251,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of Edwardsville purchased a new position in General Motors in the first quarter valued at about $468,000. South Texas Money Management Ltd. boosted its holdings in General Motors by 14.2% in the first quarter. South Texas Money Management Ltd. now owns 594,298 shares of the auto manufacturer’s stock worth $22,048,000 after acquiring an additional 74,056 shares in the last quarter. Game Creek Capital LP boosted its holdings in General Motors by 11.7% in the fourth quarter. Game Creek Capital LP now owns 239,800 shares of the auto manufacturer’s stock worth $8,021,000 after acquiring an additional 25,050 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in General Motors in the fourth quarter worth about $21,021,000. Finally, Bluefin Trading LLC boosted its holdings in General Motors by 273.9% in the fourth quarter. Bluefin Trading LLC now owns 32,007 shares of the auto manufacturer’s stock worth $1,070,000 after acquiring an additional 23,446 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Shares of General Motors stock traded down $0.11 on Thursday, reaching $37.26. 56,487 shares of the stock were exchanged, compared to its average volume of 9,327,725. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 1.65. General Motors has a twelve month low of $30.56 and a twelve month high of $45.00. The company has a market capitalization of $51.86 billion, a price-to-earnings ratio of 5.68, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 30th. The auto manufacturer reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.32. General Motors had a return on equity of 22.67% and a net margin of 6.26%. The firm had revenue of $34.88 billion during the quarter, compared to the consensus estimate of $35.56 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. The company’s revenue was down 3.4% compared to the same quarter last year. Research analysts anticipate that General Motors will post 6.58 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, June 6th. General Motors’s dividend payout ratio (DPR) is 23.24%.

GM has been the subject of several recent analyst reports. Seaport Global Securities initiated coverage on General Motors in a report on Wednesday, February 13th. They issued a “buy” rating for the company. Citigroup raised their price target on General Motors to $67.00 and gave the stock a “buy” rating in a report on Friday, February 8th. Nomura set a $42.00 price target on General Motors and gave the stock a “hold” rating in a report on Thursday, May 2nd. Zacks Investment Research downgraded General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 price target on shares of General Motors in a report on Tuesday, March 26th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.60.

In related news, Director Wesley G. Bush purchased 10,000 shares of General Motors stock in a transaction that occurred on Tuesday, May 7th. The stock was bought at an average cost of $38.58 per share, for a total transaction of $385,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dhivya Suryadevara sold 34,756 shares of General Motors stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.40, for a total value of $1,299,874.40. Following the transaction, the chief financial officer now owns 10,741 shares of the company’s stock, valued at $401,713.40. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

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General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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