General Motors (NYSE:GM) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,932 shares of the auto manufacturer’s stock after selling 1,261 shares during the period. Thrivent Financial for Lutherans’ holdings in General Motors were worth $2,742,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in General Motors during the 4th quarter worth approximately $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors during the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc acquired a new position in shares of General Motors during the fourth quarter worth $27,000. Duncker Streett & Co. Inc. boosted its stake in shares of General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in General Motors during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 7.3 %

NYSE GM opened at $47.24 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a 50-day simple moving average of $48.97 and a 200-day simple moving average of $50.53. The firm has a market capitalization of $47.00 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, equities analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

General Motors announced that its board has approved a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GM. TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective on the stock. Mizuho boosted their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price on General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, General Motors has an average rating of “Hold” and an average price target of $62.11.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by company 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.