QRG Capital Management Inc. Has $11.28 Million Stock Position in General Motors (NYSE:GM)

QRG Capital Management Inc. lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 48.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,627 shares of the auto manufacturer’s stock after buying an additional 81,559 shares during the quarter. QRG Capital Management Inc.’s holdings in General Motors were worth $11,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GM. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors in the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors in the 2nd quarter valued at $28,000. Fortitude Family Office LLC raised its stake in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares in the last quarter. Montag A & Associates Inc. acquired a new position in shares of General Motors in the 1st quarter valued at $30,000. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors in the 2nd quarter worth about $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

NYSE:GM opened at $51.80 on Tuesday. The stock has a market cap of $56.96 billion, a P/E ratio of 5.52, a price-to-earnings-growth ratio of 0.38 and a beta of 1.40. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The stock’s 50-day moving average is $48.37 and its 200-day moving average is $46.58. General Motors has a 1-year low of $26.30 and a 1-year high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.28 earnings per share. Equities research analysts anticipate that General Motors will post 10.34 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is presently 5.12%.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock worth $28,267,714 over the last ninety days. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price 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. Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Sanford C. Bernstein increased their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. UBS Group raised their target price on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.92.

General Motors Company 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.