Thrivent Financial for Lutherans Has $2.34 Million Stock Position in General Motors (NYSE:GM)

Thrivent Financial for Lutherans increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,193 shares of the auto manufacturer’s stock after purchasing an additional 539 shares during the period. Thrivent Financial for Lutherans’ holdings in General Motors were worth $2,340,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Strategic Investment Solutions Inc. IL acquired a new position in General Motors in the second quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors in the third quarter valued at about $27,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors in the second quarter valued at about $28,000. Fortitude Family Office LLC lifted its holdings in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors in the second quarter valued at about $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock worth $56,509,286 over the last 90 days. 0.72% of the stock is owned by company insiders.

General Motors Stock Performance

Shares of NYSE:GM opened at $55.50 on Thursday. The company has a market cap of $61.03 billion, a price-to-earnings ratio of 5.92, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The company has a 50-day moving average price of $51.29 and a 200-day moving average price of $47.94. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a 12 month low of $28.33 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the previous year, the company earned $2.28 earnings per share. General Motors’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts anticipate that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GM shares. Barclays boosted their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Royal Bank of Canada upped their target price on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. Wolfe Research started coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.92.

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.