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

Thrivent Financial for Lutherans lessened its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trust Point Inc. lifted its position in General Motors by 2.7% in the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock valued at $386,000 after purchasing an additional 193 shares during the period. Avestar Capital LLC lifted its holdings in shares of General Motors by 2.3% in the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after buying an additional 213 shares during the period. Continuum Advisory LLC boosted its stake in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after buying an additional 213 shares in the last quarter. Holistic Planning LLC grew its holdings in General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after acquiring an additional 214 shares during the period. Finally, Norden Group LLC raised its position in General Motors by 3.0% in the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock worth $421,000 after acquiring an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. reduced their price objective on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and upped their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a research report on Saturday, March 1st. Finally, TD Cowen assumed coverage on General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and a consensus target price of $62.11.

General Motors Stock Performance

Shares of NYSE GM opened at $47.24 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market cap 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. The company has a 50-day simple moving average of $48.97 and a 200-day simple moving average of $50.53. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released 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%. On average, equities analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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

General Motors announced that its board has initiated a share buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’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 acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is owned by company insiders.

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.