Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 12.0% during the second quarter, Holdings Channel reports. The firm owned 194,095 shares of the auto manufacturer’s stock after selling 26,457 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in General Motors were worth $6,780,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GM. National Planning Corp boosted its position in shares of General Motors by 61.8% in the second quarter. National Planning Corp now owns 24,486 shares of the auto manufacturer’s stock worth $871,000 after buying an additional 9,356 shares during the last quarter. New Jersey Better Educational Savings Trust boosted its position in shares of General Motors by 11.1% in the second quarter. New Jersey Better Educational Savings Trust now owns 20,000 shares of the auto manufacturer’s stock worth $699,000 after buying an additional 2,000 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of General Motors by 6.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,191,855 shares of the auto manufacturer’s stock worth $181,352,000 after buying an additional 331,832 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of General Motors by 14.7% in the second quarter. Kovitz Investment Group Partners LLC now owns 1,993,810 shares of the auto manufacturer’s stock worth $69,644,000 after buying an additional 256,237 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of General Motors by 23.0% in the second quarter. Global X Management Co. LLC now owns 9,654 shares of the auto manufacturer’s stock worth $337,000 after buying an additional 1,805 shares during the last quarter. Hedge funds and other institutional investors own 76.02% of the company’s stock.

Shares of General Motors Company (GM) opened at 34.88 on Friday. The stock has a market capitalization of $50.83 billion, a P/E ratio of 6.06 and a beta of 1.45. The firm’s 50-day moving average is $35.35 and its 200 day moving average is $35.16. General Motors Company has a 1-year low of $30.13 and a 1-year high of $38.55. General Motors also was the target of unusually large options trading activity on Tuesday. Traders purchased 16,324 put options on the company. This is an increase of 237% compared to the average daily volume of 4,840 put options.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.86 earnings per share. On average, analysts expect that General Motors Company will post $6.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a $0.38 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.36%. General Motors’s dividend payout ratio is currently 26.48%.

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A number of brokerages have issued reports on GM. BidaskClub upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Vetr cut shares of General Motors from a “buy” rating to a “hold” rating and set a $37.42 target price for the company. in a research report on Monday, July 17th. Zacks Investment Research cut shares of General Motors from a “hold” rating to a “strong sell” rating in a research report on Monday, July 24th. Royal Bank Of Canada restated a “hold” rating and set a $37.00 target price on shares of General Motors in a research report on Friday, July 14th. Finally, ValuEngine upgraded shares of General Motors from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $39.26.

In related news, VP Thomas S. Timko sold 17,255 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.79, for a total value of $617,556.45. Following the transaction, the vice president now owns 26,100 shares in the company, valued at $934,119. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Daniel Ammann sold 40,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $36.00, for a total value of $1,440,000.00. Following the completion of the transaction, the president now owns 235,953 shares in the company, valued at approximately $8,494,308. The disclosure for this sale can be found here. Insiders sold 369,001 shares of company stock worth $12,827,204 in the last 90 days. 0.04% of the stock is currently owned by corporate insiders.

About General Motors

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

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

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