Donald Smith & CO. Inc. Has $36.38 Million Stake in General Motors (NYSE:GM)

Donald Smith & CO. Inc. lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 54.7% in the second quarter, HoldingsChannel.com reports. The firm owned 943,546 shares of the auto manufacturer’s stock after acquiring an additional 333,453 shares during the period. Donald Smith & CO. Inc.’s holdings in General Motors were worth $36,383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Cullen Frost Bankers Inc. raised its stake in General Motors by 26.1% during the first quarter. Cullen Frost Bankers Inc. now owns 10,899 shares of the auto manufacturer’s stock worth $400,000 after acquiring an additional 2,258 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in General Motors by 15.4% during the first quarter. Tower Research Capital LLC TRC now owns 39,136 shares of the auto manufacturer’s stock worth $1,435,000 after acquiring an additional 5,225 shares in the last quarter. Truist Financial Corp raised its stake in General Motors by 62.3% during the first quarter. Truist Financial Corp now owns 376,167 shares of the auto manufacturer’s stock worth $13,798,000 after acquiring an additional 144,419 shares in the last quarter. Atria Investments Inc raised its stake in General Motors by 0.9% during the first quarter. Atria Investments Inc now owns 194,276 shares of the auto manufacturer’s stock worth $7,126,000 after acquiring an additional 1,684 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in General Motors by 2.4% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,347 shares of the auto manufacturer’s stock worth $526,000 after acquiring an additional 330 shares in the last quarter. 79.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on GM. Bank of America increased their price objective on General Motors from $72.00 to $75.00 in a research note on Wednesday, July 26th. Citigroup decreased their target price on General Motors from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, October 11th. Barclays upgraded General Motors from an “equal weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a report on Wednesday, November 1st. Mizuho decreased their target price on General Motors from $40.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. Finally, The Goldman Sachs Group decreased their target price on General Motors from $47.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

General Motors Stock Performance

GM opened at $28.47 on Monday. The company has a market capitalization of $38.99 billion, a PE ratio of 3.94, a price-to-earnings-growth ratio of 0.40 and a beta of 1.48. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 0.96. The business has a fifty day simple moving average of $30.35 and a 200 day simple moving average of $33.76. General Motors has a 1 year low of $26.30 and a 1 year high of $43.63.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.41. General Motors had a return on equity of 16.01% and a net margin of 5.83%. The firm had revenue of $44.13 billion during the quarter, compared to analysts’ expectations of $42.48 billion. During the same period in the previous year, the firm earned $2.25 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts expect that General Motors will post 7.1 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, December 1st will be given a $0.09 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.26%. General Motors’s dividend payout ratio (DPR) is presently 5.06%.

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.