Thrivent Financial for Lutherans Buys 539 Shares of General Motors (NYSE:GM)

Thrivent Financial for Lutherans grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,193 shares of the auto manufacturer’s stock after acquiring an additional 539 shares during the period. Thrivent Financial for Lutherans’ holdings in General Motors were worth $2,340,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors during the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of General Motors in the 3rd quarter worth $27,000. Wellington Shields Capital Management LLC purchased a new position in shares of General Motors in the 2nd quarter worth $28,000. Fortitude Family Office LLC grew its holdings in General Motors by 56.1% during the 2nd 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 General Motors during the 2nd quarter valued at about $33,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

Shares of GM opened at $55.50 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a market capitalization of $61.03 billion, a PE ratio of 5.92, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. General Motors has a 12-month low of $28.33 and a 12-month high of $61.24. The business’s fifty day moving average price is $51.29 and its 200 day moving average price is $47.94.

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 analysts’ consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations 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 period last year, the business posted $2.28 earnings per share. Equities research analysts forecast that General Motors will post 10.35 EPS for the current 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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

Analysts Set New Price Targets

Several research firms have issued reports on GM. The Goldman Sachs Group boosted their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th. UBS Group upped their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Nomura lowered 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 note on Monday, August 5th. Finally, Wedbush increased their price target 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. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.92.

Insider Buying and Selling

In related news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction that occurred on 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 transaction, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is owned by corporate insiders.

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.