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

Empowered Funds LLC lowered its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 84.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,213 shares of the auto manufacturer's stock after selling 142,055 shares during the period. Empowered Funds LLC's holdings in General Motors were worth $1,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GM. CreativeOne Wealth LLC bought a new stake in General Motors during the 1st quarter valued at approximately $461,000. Gamco Investors INC. ET AL lifted its position in General Motors by 11.7% in the first quarter. Gamco Investors INC. ET AL now owns 34,897 shares of the auto manufacturer's stock worth $1,583,000 after purchasing an additional 3,659 shares during the period. LRI Investments LLC bought a new stake in General Motors in the 1st quarter valued at $121,000. Epoch Investment Partners Inc. raised its stake in shares of General Motors by 4.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 75,545 shares of the auto manufacturer's stock valued at $3,426,000 after buying an additional 3,089 shares in the last quarter. Finally, SVB Wealth LLC lifted its holdings in shares of General Motors by 3.2% during the 1st quarter. SVB Wealth LLC now owns 79,892 shares of the auto manufacturer's stock worth $3,623,000 after acquiring an additional 2,495 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Wall Street Analyst Weigh In

GM has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price objective on General Motors from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. UBS Group lifted their price objective on General Motors from $58.00 to $62.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Nomura Securities raised General Motors to a "strong sell" rating in a report on Monday, August 5th. Wells Fargo & Company boosted their target price on shares of General Motors from $33.00 to $38.00 and gave the stock an "underweight" rating in a research note on Wednesday, October 23rd. Finally, Barclays increased their price target on shares of General Motors from $64.00 to $70.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, General Motors has a consensus rating of "Hold" and a consensus target price of $56.92.

Insider Activity

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 12,795 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company's stock, valued at $417,307.26. The trade was a 60.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,034,351 shares of company stock worth $56,601,268 over the last quarter. Insiders own 0.72% of the company's stock.

General Motors Price Performance

Shares of General Motors stock traded up $2.85 during midday trading on Friday, hitting $58.53. 14,591,701 shares of the company traded hands, compared to its average volume of 11,775,253. The stock has a market cap of $64.36 billion, a price-to-earnings ratio of 6.24, a PEG ratio of 0.42 and a beta of 1.40. General Motors has a 12 month low of $27.93 and a 12 month high of $59.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The firm's fifty day moving average price is $50.74 and its 200-day moving average price is $47.68.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 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 analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.28 EPS. As a group, sell-side analysts forecast that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.82%. General Motors's dividend payout ratio is presently 5.12%.

General Motors Company 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.