ING Groep NV Takes $19.78 Million Position in General Motors (NYSE:GM)

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

Other institutional investors have also modified their holdings of the company. Capital World Investors grew its position in shares of 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 acquiring an additional 6,201,777 shares during the last quarter. Swedbank AB bought a new position in General Motors in the 1st quarter worth about $159,750,000. Artemis Investment Management LLP increased its position in General Motors by 581.4% in 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 acquiring an additional 1,366,768 shares during the period. Dimensional Fund Advisors LP raised its stake in General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer's stock valued at $600,291,000 after acquiring an additional 1,091,137 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position 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 acquiring an additional 760,523 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research reports. Royal Bank of Canada increased their price target on General Motors from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Wolfe Research assumed coverage on General Motors in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. StockNews.com downgraded shares of General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, July 24th. DZ Bank cut General Motors from a "buy" rating to a "hold" rating and set a $49.00 target price for the company. in a research report on Friday, October 11th. Finally, UBS Group raised their price objective on General Motors from $58.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $56.92.

General Motors Stock Performance

Shares of NYSE:GM traded down $0.61 on Friday, hitting $57.01. 12,618,999 shares of the company were exchanged, compared to its average volume of 14,909,852. The company's 50 day moving average price is $49.52 and its two-hundred day moving average price is $47.21. The firm has a market capitalization of $62.69 billion, a price-to-earnings ratio of 6.10, a PEG ratio of 0.44 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a one year low of $27.42 and a one year high of $59.39.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted 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 return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to analysts' expectations of $44.67 billion. During the same quarter in the prior year, the firm posted $2.28 EPS. The company's revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.84%. General Motors's payout ratio is currently 5.12%.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction 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. This represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company's stock, 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 sold 653,511 shares of company stock valued at $35,012,844 over the last quarter. Corporate insiders own 0.72% of the company's stock.

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.