Donald Smith & CO. Inc. Reduces Stock Holdings in General Motors Company (NYSE:GM)

Key Points

• Donald Smith & CO. Inc. has reduced its stake in General Motors by 0.7%, holding approximately 1.9% of the company's shares, valued at about $77.7 million.
• Analysts' ratings vary for GM, with a consensus price target of $57.53 and a mix of buy, hold, and sell ratings from several brokerages.
• General Motors has declared a quarterly dividend of $0.15 per share, with a current yield of 1.1%, underscoring a solid financial foundation despite a slight decline in year-over-year revenue.

Donald Smith & CO. Inc. trimmed its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,653,055 shares of the auto manufacturer's stock after selling 11,987 shares during the quarter. General Motors accounts for about 1.9% of Donald Smith & CO. Inc.'s portfolio, making the stock its 23rd largest position. Donald Smith & CO. Inc. owned approximately 0.17% of General Motors worth $77,743,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Operose Advisors LLC lifted its stake in General Motors by 18.7% during the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after purchasing an additional 223 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of General Motors by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after acquiring an additional 226 shares in the last quarter. Hohimer Wealth Management LLC raised its stake in shares of General Motors by 0.3% in the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock valued at $3,310,000 after acquiring an additional 230 shares in the last quarter. HHM Wealth Advisors LLC raised its stake in shares of General Motors by 14.4% in the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock valued at $86,000 after acquiring an additional 232 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its stake in shares of General Motors by 3.6% in the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock valued at $316,000 after acquiring an additional 235 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GM. JPMorgan Chase & Co. increased their price objective on General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective on the stock. in a research note on Monday, April 14th. UBS Group increased their price objective on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. BNP Paribas upgraded General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Barclays increased their target price on General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has an average rating of "Hold" and a consensus price target of $57.53.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 23,977 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. The trade was a 73.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

General Motors Stock Performance

Shares of GM stock opened at $53.52 on Friday. The stock's 50-day moving average is $50.95 and its two-hundred day moving average is $48.82. The firm has a market cap of $50.96 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 1.13 and a beta of 1.36. General Motors Company has a 1 year low of $41.60 and a 1 year high of $61.24. 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 - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.01. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The business's revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company posted $3.06 earnings per share. Analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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

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.

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