Empowered Funds LLC Sells 142,055 Shares of General Motors (NYSE:GM)

Empowered Funds LLC reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 84.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,213 shares of the auto manufacturer’s stock after selling 142,055 shares during the quarter. Empowered Funds LLC’s holdings in General Motors were worth $1,175,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the second quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in General Motors during the third quarter valued at about $27,000. Wellington Shields Capital Management LLC bought a new stake in General Motors during the second quarter valued at about $28,000. Fortitude Family Office LLC raised its holdings in General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the period. Finally, EdgeRock Capital LLC bought a new stake in General Motors during the second quarter valued at about $33,000. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GM has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price objective on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. Wolfe Research initiated coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Barclays raised their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $56.92.

Insider Activity

In related news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $459,787.13. This trade represents a 52.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,034,351 shares of company stock valued at $56,601,268. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Up 5.1 %

Shares of NYSE:GM opened at $58.52 on Friday. General Motors has a 1 year low of $27.93 and a 1 year high of $59.39. The business has a 50 day simple moving average of $50.74 and a two-hundred day simple moving average of $47.68. The firm has a market capitalization of $64.35 billion, a PE ratio of 6.24, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share 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 previous year, the firm posted $2.28 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. On average, equities analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio 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.