Todd Asset Management LLC Trims Position in General Motors Company (NYSE:GM)

Key Points

• Todd Asset Management LLC has reduced its holdings in General Motors by 5.6%, selling 28,684 shares to now own approximately 0.05% of the company, valued at about $22.8 million.
• General Motors has recently announced a quarterly dividend of $0.15 per share, which represents an annualized yield of 1.1%, with the dividend payout ratio currently at 9.52%.
• Analysts have mixed ratings on General Motors, with a consensus holding rating and a target price of $57.53, while Bank of America recently lowered its price target from $65.00 to $62.00.

Todd Asset Management LLC cut its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,396 shares of the auto manufacturer's stock after selling 28,684 shares during the quarter. Todd Asset Management LLC owned 0.05% of General Motors worth $22,828,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC purchased a new stake in General Motors in the fourth quarter worth approximately $25,404,000. Cassia Capital Partners LLC boosted its stake in shares of General Motors by 63.0% during the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer's stock worth $879,000 after acquiring an additional 7,221 shares during the last quarter. AustralianSuper Pty Ltd grew its position in shares of General Motors by 38.9% during the 1st quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock valued at $287,428,000 after acquiring an additional 1,712,033 shares during the period. Sowell Financial Services LLC bought a new stake in General Motors during the first quarter valued at about $312,000. Finally, Malaga Cove Capital LLC purchased a new stake in General Motors in the 1st quarter worth approximately $292,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a report on Friday, July 11th. CLSA raised General Motors to a "moderate buy" rating in a research note on Monday, July 7th. Royal Bank Of Canada reiterated an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. Finally, Bank of America dropped their price target 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $57.53.

General Motors Trading Up 1.6%

Shares of NYSE:GM traded up $0.91 during trading on Thursday, reaching $56.49. The company's stock had a trading volume of 6,642,983 shares, compared to its average volume of 11,941,520. The stock has a market capitalization of $53.78 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.15 and a beta of 1.36. General Motors Company has a 12 month low of $41.60 and a 12 month high of $61.24. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The firm's 50 day simple moving average is $51.34 and its two-hundred day simple moving average is $48.86.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion during 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% on a year-over-year basis. During the same period last year, the company earned $3.06 EPS. On average, research analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

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

Insiders Place Their Bets

In related 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

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.