Empirical Finance LLC Decreases Stake in General Motors (NYSE:GM)

Empirical Finance LLC lowered its position in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 8.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 33,247 shares of the auto manufacturer’s stock after selling 3,134 shares during the quarter. Empirical Finance LLC’s holdings in General Motors were worth $1,067,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Cibc World Market Inc. lifted its position in General Motors by 5.9% during the 2nd quarter. Cibc World Market Inc. now owns 205,833 shares of the auto manufacturer’s stock worth $6,537,000 after acquiring an additional 11,537 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in General Motors by 5.0% during the 2nd quarter. Hexagon Capital Partners LLC now owns 7,648 shares of the auto manufacturer’s stock worth $243,000 after acquiring an additional 361 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in General Motors during the 2nd quarter worth approximately $119,000. FORVIS Wealth Advisors LLC lifted its position in General Motors by 6.3% during the 2nd quarter. FORVIS Wealth Advisors LLC now owns 8,315 shares of the auto manufacturer’s stock worth $264,000 after acquiring an additional 491 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in General Motors by 6.4% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 963,580 shares of the auto manufacturer’s stock worth $30,603,000 after acquiring an additional 57,736 shares in the last quarter. Hedge funds and other institutional investors own 78.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GM shares. StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, October 27th. Citigroup upped their target price on General Motors from $78.00 to $81.00 and gave the company a “buy” rating in a research report on Tuesday, October 25th. Wolfe Research lowered General Motors from an “outperform” rating to a “peer perform” rating in a research report on Thursday, November 10th. Morgan Stanley upped their target price on General Motors from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 26th. Finally, Daiwa Capital Markets upped their target price on General Motors to $38.00 in a research report on Thursday, October 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.63.

General Motors Price Performance

Shares of GM opened at $36.20 on Wednesday. The company has a market cap of $51.43 billion, a P/E ratio of 6.14, a PEG ratio of 0.66 and a beta of 1.33. The stock has a fifty day moving average price of $37.01 and a 200 day moving average price of $36.91. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.14 and a quick ratio of 0.95. General Motors has a 12 month low of $30.33 and a 12 month high of $55.55.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 25th. The auto manufacturer reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.36. The firm had revenue of $41.89 billion during the quarter, compared to the consensus estimate of $42.05 billion. General Motors had a return on equity of 14.88% and a net margin of 6.57%. The firm’s revenue was up 56.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 EPS. On average, research analysts forecast that General Motors will post 7.1 earnings per share for the current year.

About General Motors

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General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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