Hotchkis & Wiley Capital Management LLC Acquires 1,910,186 Shares of General Motors Company $GM

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in General Motors by 17.5%, owning 12,822,632 shares after acquiring an additional 1,910,186 shares in the first quarter.
• General Motors recently declared a $0.15 quarterly dividend, with an annualized dividend yield of 1.0%, to be paid to stockholders of record on September 5th.
• Wells Fargo raised its price target for General Motors from $34.00 to $38.00, while Citigroup and JPMorgan Chase also increased their targets, indicating positive analyst sentiment towards the stock.

Hotchkis & Wiley Capital Management LLC boosted its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 17.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,822,632 shares of the auto manufacturer's stock after purchasing an additional 1,910,186 shares during the quarter. General Motors accounts for about 2.0% of Hotchkis & Wiley Capital Management LLC's investment portfolio, making the stock its 11th biggest holding. Hotchkis & Wiley Capital Management LLC owned about 1.33% of General Motors worth $603,048,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of General Motors by 6.9% in the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after buying an additional 6,395,375 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of General Motors by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock valued at $676,322,000 after buying an additional 316,196 shares during the period. Invesco Ltd. boosted its holdings in shares of General Motors by 4.5% in the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock valued at $646,482,000 after buying an additional 594,217 shares during the period. Northern Trust Corp boosted its holdings in shares of General Motors by 8.1% in the fourth quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock valued at $582,251,000 after buying an additional 822,454 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of General Motors by 12.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,447,099 shares of the auto manufacturer's stock valued at $444,297,000 after buying an additional 1,020,386 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Activity

In other news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at $451,274.13. This represents a 73.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Hatto sold 36,804 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the transaction, the chief accounting officer directly owned 12,007 shares in the company, valued at $661,585.70. The trade was a 75.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Royal Bank Of Canada restated an "outperform" rating on shares of General Motors in a report on Thursday, July 24th. Wedbush increased their target price on shares of General Motors from $55.00 to $65.00 and gave the stock an "outperform" rating in a report on Tuesday, August 19th. Piper Sandler restated a "neutral" rating and set a $48.00 target price (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Mizuho increased their target price on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Citigroup increased their target price on shares of General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, General Motors has an average rating of "Hold" and an average target price of $58.05.

General Motors Stock Performance

NYSE GM traded down $0.03 on Wednesday, hitting $58.77. 9,846,863 shares of the stock were exchanged, compared to its average volume of 11,656,789. 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 business's fifty day moving average is $52.90 and its 200 day moving average is $49.35. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24. The company has a market capitalization of $55.95 billion, a PE ratio of 9.33, a P/E/G ratio of 1.23 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same period in the prior year, the firm posted $3.06 earnings per share. The company's quarterly revenue was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. General Motors's dividend payout ratio is presently 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.