Todd Asset Management LLC Lowers Stock Holdings 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 decreased its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 485,396 shares of the auto manufacturer's stock after selling 28,684 shares during the quarter. Todd Asset Management LLC owned about 0.05% of General Motors worth $22,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GM. Measured Risk Portfolios Inc. bought a new position in shares of General Motors in the fourth quarter worth $27,000. Costello Asset Management INC purchased a new position in General Motors in the first quarter worth $32,000. Transce3nd LLC purchased a new position in General Motors in the fourth quarter worth $34,000. North Capital Inc. purchased a new position in General Motors in the first quarter worth $40,000. Finally, Ossiam purchased a new position in General Motors in the fourth quarter worth $44,000. Institutional investors own 92.67% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GM. Barclays upped their target price on shares of General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. The Goldman Sachs Group restated a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Mizuho upped their price target on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Wells Fargo & Company upped their price target on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors has a consensus rating of "Hold" and an average price target of $57.53.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the transaction, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. This trade represents a 73.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.

General Motors Stock Up 0.7%

Shares of GM traded up $0.38 on Friday, hitting $56.80. 2,498,074 shares of the stock traded hands, compared to its average volume of 11,879,501. The company has a market capitalization of $54.07 billion, a PE ratio of 9.02, a P/E/G ratio of 1.18 and a beta of 1.36. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The business has a 50 day simple moving average of $51.52 and a 200 day simple moving average of $48.87. General Motors Company has a one year low of $41.60 and a one year high of $61.24.

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

General Motors Announces Dividend

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

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.