M&G Plc Has $8.47 Million Stock Position in General Motors (NYSE:GM)

M&G PLC reduced its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 22.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,136 shares of the auto manufacturer's stock after selling 54,533 shares during the quarter. M&G PLC's holdings in General Motors were worth $8,466,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors during the second quarter worth $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors during the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC purchased a new position in shares of General Motors in the 2nd quarter valued at about $28,000. Fortitude Family Office LLC raised 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 worth $29,000 after acquiring an additional 225 shares in the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in General Motors during the first quarter worth approximately $30,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Up 0.3 %

GM stock traded up $0.19 during midday trading on Friday, reaching $55.58. 10,247,531 shares of the company's stock traded hands, compared to its average volume of 12,516,410. The business has a 50-day moving average price of $48.81 and a two-hundred day moving average price of $46.87. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $56.08. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The company has a market capitalization of $61.12 billion, a P/E ratio of 5.93, a PEG ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. 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 previous year, the company posted $2.28 earnings per share. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts forecast that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid 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 0.86%. General Motors's dividend payout ratio (DPR) is presently 5.12%.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Rory Harvey sold 2,302 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was 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 in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 653,511 shares of company stock worth $35,012,844. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on GM. Nomura Securities upgraded General Motors to a "strong sell" rating in a research note on Monday, August 5th. The Goldman Sachs Group boosted their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a "buy" rating in a research note on Tuesday, October 1st. Royal Bank of Canada raised their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of General Motors in a research note on Thursday, September 5th. They set a "peer perform" rating on the stock. Finally, Wells Fargo & Company increased their price target on shares of General Motors from $33.00 to $38.00 and gave the stock an "underweight" rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.