Empirical Finance LLC Increases Holdings in General Motors (NYSE:GM)

Empirical Finance LLC boosted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,499 shares of the auto manufacturer’s stock after buying an additional 404 shares during the quarter. Empirical Finance LLC’s holdings in General Motors were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors in the second quarter worth about $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC bought a new stake in General Motors in the second quarter valued at approximately $28,000. Fortitude Family Office LLC lifted its position in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in shares of General Motors in the second quarter worth approximately $33,000. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 18.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GM. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research report on Friday, October 11th. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Barclays raised their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Motors currently has an average rating of “Hold” and an average target price of $56.92.

General Motors Stock Down 1.1 %

General Motors stock opened at $57.01 on Friday. General Motors has a one year low of $27.42 and a one year high of $59.39. The stock has a fifty day moving average of $49.72 and a 200 day moving average of $47.28. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The stock has a market cap of $62.69 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.40.

General Motors (NYSE:GM) (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, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the business posted $2.28 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.84%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

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.