Empirical Finance LLC Acquires 404 Shares of General Motors (NYSE:GM)

Empirical Finance LLC lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,499 shares of the auto manufacturer’s stock after buying an additional 404 shares during the period. Empirical Finance LLC’s holdings in General Motors were worth $1,995,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Orion Portfolio Solutions LLC raised its holdings in General Motors by 14.8% during the 1st quarter. Orion Portfolio Solutions LLC now owns 53,078 shares of the auto manufacturer’s stock valued at $2,407,000 after buying an additional 6,852 shares during the period. Dorsey & Whitney Trust CO LLC bought a new stake in shares of General Motors in the 1st quarter worth about $286,000. M&G Plc purchased a new position in shares of General Motors during the 1st quarter worth about $10,416,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in General Motors by 7.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,279,934 shares of the auto manufacturer’s stock valued at $58,071,000 after purchasing an additional 84,697 shares during the last quarter. Finally, TIAA Trust National Association raised its position in General Motors by 6.6% in the 1st quarter. TIAA Trust National Association now owns 7,732 shares of the auto manufacturer’s stock worth $351,000 after purchasing an additional 479 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GM has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price 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 upped their price objective on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Wedbush lifted their target price on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. UBS Group upped their price target 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, DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a report on Friday, October 11th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.92.

Insiders Place Their Bets

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

General Motors Trading Down 1.1 %

Shares of NYSE:GM opened at $57.01 on Friday. The company has a market capitalization of $62.69 billion, a PE ratio of 6.08, a P/E/G ratio of 0.44 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. General Motors has a 12-month low of $27.42 and a 12-month high of $59.39. The business’s fifty day simple moving average is $49.72 and its 200-day simple moving average is $47.28.

General Motors (NYSE:GM) (TSE:GMM.U) last posted 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. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 earnings per share. As a group, equities research analysts predict that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given 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 yield of 0.84%. General Motors’s payout ratio is 5.12%.

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.