KBC Group NV Boosts Stake in General Motors (NYSE:GM)

KBC Group NV raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 14.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 196,992 shares of the auto manufacturer’s stock after purchasing an additional 25,117 shares during the quarter. KBC Group NV’s holdings in General Motors were worth $8,833,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GM. Capital World Investors lifted its stake in General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after acquiring an additional 6,201,777 shares in the last quarter. Swedbank AB acquired a new stake in shares of General Motors during the first quarter worth about $159,750,000. Artemis Investment Management LLP boosted its stake in shares of General Motors by 581.4% in the third 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 period. Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $600,291,000 after purchasing an additional 1,091,137 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in General Motors by 3,333.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock worth $36,394,000 after buying an additional 760,523 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Down 1.0 %

GM opened at $57.04 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 52 week low of $27.42 and a 52 week high of $59.39. The business’s 50 day moving average is $49.72 and its two-hundred day moving average is $47.28. The firm has a market cap of $62.72 billion, a price-to-earnings ratio of 6.08, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 EPS. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, research analysts predict 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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Insider Activity at General Motors

In other news, 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 sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 18.19 % decrease in their ownership of the stock. 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.

Analyst Ratings Changes

GM has been the subject of several recent research reports. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Wedbush lifted their target price on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company upped their target price on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.92.

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.