Donald Smith & CO. Inc. Boosts Stake in General Motors (NYSE:GM)

Donald Smith & CO. Inc. increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 53.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,453,221 shares of the auto manufacturer’s stock after acquiring an additional 503,816 shares during the period. Donald Smith & CO. Inc.’s holdings in General Motors were worth $52,200,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SouthState Corp grew its position in General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the last quarter. Highlander Capital Management LLC purchased a new position in General Motors in the 4th quarter worth $27,000. BluePath Capital Management LLC purchased a new stake in General Motors during the third quarter valued at about $33,000. Bfsg LLC purchased a new position in shares of General Motors in the fourth quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners bought a new position in General Motors during the 4th quarter worth approximately $36,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In other news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Rory Harvey sold 5,100 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares in the company, valued at approximately $544,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

General Motors Stock Up 0.4 %

Shares of GM stock traded up $0.20 during trading hours on Monday, hitting $46.04. 10,570,536 shares of the company’s stock traded hands, compared to its average volume of 17,374,258. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The stock’s fifty day simple moving average is $42.27 and its two-hundred day simple moving average is $36.36. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The stock has a market cap of $52.53 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.54 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter in the previous year, the business earned $2.21 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that General Motors will post 9.45 EPS for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.04%. General Motors’s dividend payout ratio is 5.87%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GM shares. Piper Sandler increased their price objective on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Redburn Atlantic assumed coverage on shares of General Motors in a research note on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective for the company. Sanford C. Bernstein assumed coverage on shares of General Motors in a report on Thursday. They set an “outperform” rating and a $55.00 target price for the company. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Thursday, January 4th. Finally, Barclays lifted their price objective on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.65.

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.