General Motors (NYSE:GM) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,268,096 shares of the auto manufacturer's stock after purchasing an additional 13,206 shares during the period. Principal Financial Group Inc. owned 0.12% of General Motors worth $56,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Capital World Investors lifted its stake in shares of General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer's stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares during the period. Bank of New York Mellon Corp lifted its position in shares of General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer's stock worth $601,730,000 after buying an additional 135,717 shares during the last quarter. Dimensional Fund Advisors LP raised its position in General Motors by 9.2% in 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 purchasing an additional 1,091,137 shares during the last quarter. LSV Asset Management increased its holdings in shares of General Motors by 2.6% in the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer's stock valued at $411,052,000 after purchasing an additional 223,260 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of General Motors in the first quarter valued at $159,750,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Performance

Shares of GM traded up $0.19 during trading hours on Friday, reaching $55.58. 10,247,531 shares of the company traded hands, compared to its average volume of 12,516,410. The stock has a market capitalization of $61.12 billion, a P/E ratio of 5.93, a P/E/G ratio of 0.42 and a beta of 1.40. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average price of $48.81 and a 200-day moving average price of $46.88. General Motors has a 12-month low of $26.30 and a 12-month high of $56.08.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (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 firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the business earned $2.28 earnings per share. General Motors's revenue was up 10.5% compared to the same quarter last year. Equities analysts anticipate that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.86%. General Motors's dividend payout ratio is currently 5.12%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wolfe Research assumed coverage on General Motors in a research note on Thursday, September 5th. They set a "peer perform" rating for the company. Wells Fargo & Company raised their target price on shares of General Motors from $33.00 to $38.00 and gave the company an "underweight" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lifted their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Nomura Securities raised shares of General Motors to a "strong sell" rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, General Motors currently has an average rating of "Hold" and an average target price of $56.92.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the firm'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 completion of the sale, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on 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 directly owns 694,548 shares of the company's stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 653,511 shares of company stock worth $35,012,844 over the last three months. 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.