Thrivent Financial for Lutherans grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 80.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,165 shares of the auto manufacturer’s stock after purchasing an additional 93,661 shares during the quarter. Thrivent Financial for Lutherans’ holdings in General Motors were worth $7,638,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in GM. Icon Wealth Partners LLC bought a new position in shares of General Motors during the 4th quarter valued at $106,000. Cerebellum GP LLC bought a new position in shares of General Motors during the 4th quarter valued at $123,000. Independence Bank of Kentucky bought a new position in shares of General Motors during the 4th quarter valued at $129,000. Stumpf Capital Management LLC bought a new position in shares of General Motors during the 4th quarter valued at $131,000. Finally, Hoertkorn Richard Charles bought a new position in shares of General Motors during the 4th quarter valued at $135,000. Institutional investors and hedge funds own 73.09% of the company’s stock.
General Motors opened at $38.05 on Thursday, according to Marketbeat. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $53.95 billion, a price-to-earnings ratio of 5.75, a P/E/G ratio of 1.09 and a beta of 1.61. General Motors has a 52-week low of $31.92 and a 52-week high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Thursday, April 26th. The auto manufacturer reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.19. General Motors had a negative net margin of 3.76% and a positive return on equity of 23.03%. The business had revenue of $36.10 billion for the quarter, compared to analyst estimates of $34.67 billion. During the same period in the previous year, the business earned $1.70 EPS. The firm’s revenue was down 12.4% on a year-over-year basis. research analysts forecast that General Motors will post 6.37 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 8th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.99%. General Motors’s dividend payout ratio (DPR) is currently 22.96%.
In other news, insider Charles K. Stevens III sold 35,000 shares of General Motors stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $36.10, for a total transaction of $1,263,500.00. Following the sale, the insider now directly owns 67,741 shares in the company, valued at approximately $2,445,450.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of General Motors stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $39.71, for a total transaction of $1,588,400,000.00. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.
Several research analysts recently commented on the stock. Piper Jaffray Companies set a $57.00 target price on shares of General Motors and gave the stock an “overweight” rating in a report on Tuesday, May 15th. Zacks Investment Research upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Wednesday, May 9th. ValuEngine downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. TheStreet upgraded shares of General Motors from a “c+” rating to a “b” rating in a report on Friday, April 27th. Finally, Citigroup reiterated a “hold” rating and issued a $70.00 target price on shares of General Motors in a report on Friday, April 27th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. General Motors currently has a consensus rating of “Hold” and an average price target of $45.43.
General Motors Company Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.