Donald Smith & CO. Inc. Buys 175,860 Shares of General Motors (NYSE:GM)

Donald Smith & CO. Inc. grew its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 12.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,629,573 shares of the auto manufacturer's stock after purchasing an additional 175,860 shares during the period. General Motors comprises 1.7% of Donald Smith & CO. Inc.'s portfolio, making the stock its 26th largest holding. Donald Smith & CO. Inc. owned about 0.14% of General Motors worth $73,070,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GM. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors during the second quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC grew its stake in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer's stock valued at $29,000 after buying an additional 225 shares in the last quarter. Montag A & Associates Inc. acquired a new position in General Motors in the first quarter worth approximately $30,000. Finally, EdgeRock Capital LLC bought a new position in General Motors during the second quarter valued at approximately $33,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Performance

General Motors stock traded up $0.42 on Wednesday, hitting $51.96. The company's stock had a trading volume of 8,178,712 shares, compared to its average volume of 15,079,735. General Motors has a one year low of $26.30 and a one year high of $54.29. The firm has a market cap of $57.14 billion, a P/E ratio of 5.50, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42. The company has a quick ratio of 0.99, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The company has a fifty day moving average price of $48.06 and a 200-day moving average price of $46.33.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts' expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.28 earnings per share. On average, equities analysts anticipate that General Motors will post 10.05 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, December 6th. General Motors's dividend payout ratio is 5.12%.

Wall Street Analyst Weigh In

Several research firms have commented on GM. Royal Bank of Canada increased their price target on shares of General Motors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Wells Fargo & Company upped their price target on General Motors from $33.00 to $38.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 23rd. Nomura lowered General Motors from a "neutral" rating to a "reduce" rating and set a $34.00 target price for the company. in a report on Monday, August 5th. Finally, Nomura Securities upgraded General Motors to a "strong sell" rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $56.92.

Insider Buying and Selling at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company's stock, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock worth $28,267,714 over the last three months. Company insiders own 0.72% of the company's stock.

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.