TCW Group Inc. Decreases Stake in General Motors Company (NYSE:GM)

Key Points

• TCW Group Inc. has reduced its stake in General Motors Company by 6.0%, selling 86,292 shares and now holds 1,341,060 shares valued at approximately $63.07 million.
• General Motors reported earnings of $2.53 per share for the last quarter, exceeding expectations, with a revenue of $47.12 billion, slightly down from the previous year.
• The company has announced a quarterly dividend of $0.15 per share, with an ex-dividend date set for September 5th, yielding an annualized rate of 1.12%.

TCW Group Inc. lowered its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 6.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,341,060 shares of the auto manufacturer's stock after selling 86,292 shares during the period. TCW Group Inc. owned 0.14% of General Motors worth $63,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GM. Norges Bank purchased a new stake in shares of General Motors during the fourth quarter valued at $592,321,000. Assenagon Asset Management S.A. raised its holdings in General Motors by 305.6% in the first 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 in the last quarter. AustralianSuper Pty Ltd raised its holdings in General Motors by 38.9% in the first 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 in the last quarter. National Bank of Canada FI increased its stake in General Motors by 54.4% during the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock valued at $178,593,000 after purchasing an additional 1,180,936 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake 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 acquiring an additional 1,170,816 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

Shares of NYSE:GM traded up $0.04 during trading on Monday, reaching $53.44. The company had a trading volume of 6,950,118 shares, compared to its average volume of 10,142,615. The firm has a market capitalization of $50.88 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32. 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's fifty day moving average price is $50.30 and its 200 day moving average price is $48.73. General Motors Company has a fifty-two week low of $38.96 and a fifty-two week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. The business 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 company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.06 earnings per share. As a group, equities research analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's payout ratio is currently 9.52%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GM. Benchmark started coverage on shares of General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 price objective on the stock. 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. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a research note on Thursday. Bank of America cut their target price on General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, Wedbush reiterated an "outperform" rating and set a $55.00 price target on shares of General Motors in a report on Wednesday, July 23rd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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.