General Motors (NYSE:GM) Shares Bought by ING Groep NV

ING Groep NV grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 18.0% during the fourth quarter, Holdings Channel reports. The firm owned 520,442 shares of the auto manufacturer’s stock after acquiring an additional 79,328 shares during the quarter. ING Groep NV’s holdings in General Motors were worth $27,724,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of General Motors during the fourth quarter worth $25,000. Crews Bank & Trust acquired a new stake in shares of General Motors in the 4th quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of General Motors in the 4th quarter worth about $28,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Motors in the 4th quarter worth about $31,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors in the 3rd quarter worth about $27,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GM shares. UBS Group increased their price objective on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Mizuho increased their price objective on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wells Fargo & Company increased their price objective on shares of General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and increased their price objective for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.71.

General Motors Stock Performance

NYSE:GM opened at $47.84 on Friday. General Motors has a twelve month low of $38.94 and a twelve month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a 50-day moving average of $50.81 and a 200-day moving average of $50.11. The firm has a market cap of $47.60 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is 7.80%.

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.