Donald Smith & CO. Inc. Has $88.70 Million Holdings in General Motors (NYSE:GM)

Donald Smith & CO. Inc. boosted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,665,042 shares of the auto manufacturer’s stock after buying an additional 35,469 shares during the period. General Motors makes up approximately 2.1% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 21st largest position. Donald Smith & CO. Inc. owned about 0.17% of General Motors worth $88,697,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in General Motors in the fourth quarter valued at about $592,321,000. Amundi boosted its stake in shares of General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after purchasing an additional 2,113,973 shares in the last quarter. ACR Alpine Capital Research LLC increased its position in General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after purchasing an additional 2,104,528 shares in the last quarter. Raymond James Financial Inc. bought a new position in General Motors in the 4th quarter valued at approximately $108,366,000. Finally, National Bank of Canada FI boosted its position in General Motors by 158.8% in the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after buying an additional 1,332,450 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GM. The Goldman Sachs Group set a $73.00 price target on General Motors in a research note on Saturday, March 1st. UBS Group reissued a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Piper Sandler upped their price objective on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Finally, StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus price target of $62.11.

General Motors Stock Performance

Shares of GM opened at $47.99 on Thursday. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a 50 day moving average price of $48.58 and a two-hundred day moving average price of $50.60. The firm has a market capitalization of $47.75 billion, a P/E ratio of 7.80, a P/E/G ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

General Motors declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

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.