ING Groep NV Purchases Shares of 441,114 General Motors (NYSE:GM)

ING Groep NV acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 441,114 shares of the auto manufacturer’s stock, valued at approximately $19,780,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Metis Global Partners LLC raised its position in General Motors by 0.6% during the 3rd quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer’s stock valued at $1,625,000 after purchasing an additional 230 shares during the last quarter. KBC Group NV raised its holdings in shares of General Motors by 14.6% during the third quarter. KBC Group NV now owns 196,992 shares of the auto manufacturer’s stock valued at $8,833,000 after acquiring an additional 25,117 shares in the last quarter. Hourglass Capital LLC lifted its stake in General Motors by 14.3% in the third quarter. Hourglass Capital LLC now owns 78,757 shares of the auto manufacturer’s stock worth $3,531,000 after acquiring an additional 9,840 shares during the period. Victory Capital Management Inc. boosted its holdings in General Motors by 21.3% in the third quarter. Victory Capital Management Inc. now owns 1,152,514 shares of the auto manufacturer’s stock valued at $51,679,000 after acquiring an additional 202,194 shares in the last quarter. Finally, Aptus Capital Advisors LLC increased its position in General Motors by 5.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 12,069 shares of the auto manufacturer’s stock valued at $541,000 after purchasing an additional 604 shares during the period. 92.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company increased their target price on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 23rd. Barclays lifted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Finally, Wedbush boosted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus target price of $56.92.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was 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 of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 18.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 653,511 shares of company stock worth $35,012,844 in the last quarter. Company insiders own 0.72% of the company’s stock.

General Motors Price Performance

GM opened at $57.63 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The company’s 50-day simple moving average is $49.33 and its two-hundred day simple moving average is $47.13. General Motors has a 52-week low of $27.42 and a 52-week high of $59.39. The stock has a market capitalization of $63.37 billion, a P/E ratio of 6.14, a P/E/G ratio of 0.44 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the prior year, the firm earned $2.28 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. As a group, analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.83%. General Motors’s dividend payout ratio is currently 5.12%.

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.