Federated Hermes Inc. Buys 305,290 Shares of General Motors Company (NYSE:GM)

Federated Hermes Inc. grew its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 47.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 948,639 shares of the auto manufacturer's stock after purchasing an additional 305,290 shares during the quarter. Federated Hermes Inc. owned approximately 0.10% of General Motors worth $44,614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nemes Rush Group LLC increased its position in shares of General Motors by 18.7% during the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock valued at $73,000 after purchasing an additional 217 shares during the last quarter. Operose Advisors LLC increased its position in shares of General Motors by 18.7% during the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock valued at $75,000 after purchasing an additional 223 shares during the last quarter. Bessemer Group Inc. increased its position in shares of General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after purchasing an additional 226 shares during the last quarter. Hohimer Wealth Management LLC increased its position in shares of General Motors by 0.3% during the 1st quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock valued at $3,310,000 after purchasing an additional 230 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in shares of General Motors by 3.6% during the 1st quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock valued at $316,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

Shares of NYSE GM traded down $0.82 during midday trading on Friday, reaching $52.52. 9,539,407 shares of the stock traded hands, compared to its average volume of 10,055,104. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The stock has a market capitalization of $50.00 billion, a PE ratio of 8.34, a P/E/G ratio of 1.13 and a beta of 1.35. General Motors Company has a one year low of $38.96 and a one year high of $61.24. The company's 50 day moving average is $50.47 and its 200 day moving average is $48.80.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. The firm had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The company's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.06 EPS. On average, equities research analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio is currently 9.52%.

Wall Street Analyst Weigh In

GM has been the subject of a number of recent research reports. Wedbush reiterated an "outperform" rating and set a $55.00 price objective on shares of General Motors in a research note on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft downgraded General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a research note on Monday, April 14th. Piper Sandler reiterated a "neutral" rating and set a $48.00 price objective (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Barclays boosted their price objective on General Motors from $45.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, General Motors presently has an average rating of "Hold" and a consensus price target of $56.35.

About General Motors

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.