Empirical Finance LLC Has $2.33 Million Stock Holdings in General Motors (NYSE:GM)

Empirical Finance LLC reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,778 shares of the auto manufacturer’s stock after selling 721 shares during the period. Empirical Finance LLC’s holdings in General Motors were worth $2,332,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GM. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the fourth quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in General Motors in the 4th quarter worth about $26,000. Catalyst Capital Advisors LLC bought a new stake in General Motors in the 3rd quarter valued at about $27,000. Truvestments Capital LLC acquired a new position in shares of General Motors during the 3rd quarter worth approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of General Motors during the fourth quarter worth approximately $28,000. 92.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GM shares. Royal Bank of Canada increased their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Mizuho increased their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. 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. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus target price of $61.28.

General Motors Stock Performance

Shares of GM stock opened at $47.35 on Monday. The firm has a market capitalization of $47.12 billion, a price-to-earnings ratio of 7.70, a PEG ratio of 0.68 and a beta of 1.40. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The business’s 50-day moving average price is $51.80 and its 200-day moving average price is $49.92. General Motors has a 12 month low of $37.83 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities research analysts forecast that General Motors will post 11.28 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Insiders Place Their Bets

In related news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction 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. This trade represents a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

About General Motors

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.