Diamond Hill Capital Management Inc. Has $475.73 Million Stock Holdings in General Motors Company (NYSE:GM)

Diamond Hill Capital Management Inc. cut its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 9.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,115,350 shares of the auto manufacturer's stock after selling 1,007,256 shares during the quarter. General Motors accounts for about 2.2% of Diamond Hill Capital Management Inc.'s investment portfolio, making the stock its 11th largest holding. Diamond Hill Capital Management Inc. owned 1.05% of General Motors worth $475,725,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in General Motors in the 4th quarter worth approximately $592,321,000. Assenagon Asset Management S.A. lifted its holdings in General Motors by 305.6% in the 1st 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. AustralianSuper Pty Ltd lifted its holdings in General Motors by 38.9% in the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after purchasing an additional 1,712,033 shares during the last quarter. National Bank of Canada FI lifted its holdings in General Motors by 54.4% in the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock worth $178,593,000 after purchasing an additional 1,180,936 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in General Motors by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GM. The Goldman Sachs Group restated a "buy" rating on shares of General Motors in a report on Friday, July 11th. Mizuho lifted their price target on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Benchmark started coverage on General Motors in a research report on Monday, July 21st. They issued a "buy" rating and a $65.00 price target on the stock. BNP Paribas raised General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. lifted their price target on General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $56.35.

General Motors Price Performance

NYSE:GM traded up $1.04 during trading hours on Friday, reaching $53.38. The company had a trading volume of 6,483,783 shares, compared to its average volume of 10,352,842. The stock has a 50-day moving average of $50.23 and a two-hundred day moving average of $48.72. General Motors Company has a one year low of $38.96 and a one year high of $61.24. The firm has a market capitalization of $50.82 billion, a PE ratio of 8.47, a PEG ratio of 1.13 and a beta of 1.32. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The firm had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same period in the prior year, the business posted $3.06 earnings per share. The business's revenue was down 1.8% compared to the same quarter last year. 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 given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio (DPR) is 9.52%.

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.