Horizon Kinetics Asset Management LLC Buys 12,193 Shares of General Motors (NYSE:GM)

Horizon Kinetics Asset Management LLC boosted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 212.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,943 shares of the auto manufacturer’s stock after acquiring an additional 12,193 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in General Motors were worth $805,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors in the second quarter valued at $25,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors during the 3rd quarter worth about $27,000. Truvestments Capital LLC bought a new position in shares of General Motors during the 3rd quarter worth about $27,000. Wellington Shields Capital Management LLC bought a new stake in General Motors in the second quarter valued at about $28,000. Finally, Fortitude Family Office LLC raised 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 worth $29,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the sale, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,021,556 shares of company stock worth $55,974,057. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Up 2.9 %

NYSE:GM opened at $60.20 on Tuesday. The stock’s fifty day simple moving average is $51.01 and its 200-day simple moving average is $47.82. The firm has a market capitalization of $66.20 billion, a P/E ratio of 6.42, a P/E/G ratio of 0.44 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. General Motors has a 12-month low of $27.93 and a 12-month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its 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 net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. Equities research analysts expect that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

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 issued 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 0.80%. General Motors’s payout ratio is 5.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GM shares. Wolfe Research began coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. boosted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their price objective on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Wedbush upped their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. Four equities research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.