Quest Partners LLC Has $1.68 Million Stock Holdings in General Motors (NYSE:GM)

Quest Partners LLC boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 81.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,516 shares of the auto manufacturer’s stock after purchasing an additional 16,788 shares during the period. Quest Partners LLC’s holdings in General Motors were worth $1,682,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors grew its stake in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the period. Swedbank AB bought a new position in shares of General Motors in the first quarter valued at approximately $159,750,000. Artemis Investment Management LLP increased its position in shares of General Motors by 581.4% during the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after purchasing an additional 1,366,768 shares during the last quarter. Dimensional Fund Advisors LP raised its position in General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after acquiring an additional 1,091,137 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in shares of General Motors by 3,333.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after purchasing an additional 760,523 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GM shares. The Goldman Sachs Group raised their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Barclays upped their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. raised 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. Finally, Wells Fargo & Company upped their price objective on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.92.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the sale, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. The trade was a 52.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 653,511 shares of company stock valued at $35,012,844 over the last three months. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Down 1.4 %

Shares of NYSE:GM opened at $56.26 on Tuesday. The stock’s 50-day moving average is $49.90 and its 200 day moving average is $47.40. The company has a market cap of $61.86 billion, a PE ratio of 6.00, a P/E/G ratio of 0.43 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. General Motors has a 1 year low of $27.70 and a 1 year high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) 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 previous year, the firm earned $2.28 earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

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 given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. 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.