Quest Partners LLC Buys 16,788 Shares of General Motors (NYSE:GM)

Quest Partners LLC lifted 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 acquiring an additional 16,788 shares during the quarter. Quest Partners LLC’s holdings in General Motors were worth $1,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GM. SJS Investment Consulting Inc. lifted its holdings in shares of General Motors by 34.5% during the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after buying an additional 203 shares during the period. Allworth Financial LP grew its stake in shares of General Motors by 2.3% during the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after purchasing an additional 205 shares during the period. Fortitude Family Office LLC increased its position in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC boosted its holdings in shares of General Motors by 3.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after buying an additional 227 shares during the last quarter. Finally, Institute for Wealth Management LLC. grew its position in General Motors by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after buying an additional 230 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

NYSE:GM opened at $56.26 on Tuesday. The company has a market capitalization of $61.86 billion, a P/E ratio of 6.00, a P/E/G ratio of 0.43 and a beta of 1.40. The business’s 50-day moving average is $49.90 and its 200 day moving average is $47.40. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a 12 month low of $27.70 and a 12 month high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping 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 business 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 for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.85%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Wedbush boosted their price target on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a 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 research note on Wednesday, September 25th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Finally, DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.92.

Insider Activity

In related news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. This represents a 60.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 653,511 shares of company stock worth $35,012,844. 0.72% of the stock is currently owned by corporate insiders.

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.