Horizon Kinetics Asset Management LLC Has $805,000 Stake in General Motors (NYSE:GM)

Horizon Kinetics Asset Management LLC raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 212.1% in the third quarter, HoldingsChannel.com reports. The fund owned 17,943 shares of the auto manufacturer’s stock after purchasing an additional 12,193 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in General Motors were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of GM. Mirabella Financial Services LLP lifted its position in shares of General Motors by 132.0% in the third quarter. Mirabella Financial Services LLP now owns 219,124 shares of the auto manufacturer’s stock valued at $9,826,000 after buying an additional 124,667 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of General Motors during the 3rd quarter worth about $27,000. Centaurus Financial Inc. raised its holdings in General Motors by 9.1% in the 3rd quarter. Centaurus Financial Inc. now owns 12,682 shares of the auto manufacturer’s stock valued at $569,000 after acquiring an additional 1,054 shares during the period. Alpha DNA Investment Management LLC lifted its holdings in shares of General Motors by 11.9% during the third quarter. Alpha DNA Investment Management LLC now owns 16,296 shares of the auto manufacturer’s stock worth $731,000 after buying an additional 1,739 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of General Motors by 76.5% in the third quarter. Larson Financial Group LLC now owns 5,138 shares of the auto manufacturer’s stock valued at $230,000 after buying an additional 2,227 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of GM opened at $60.20 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The firm’s fifty day simple moving average is $51.01 and its two-hundred day simple moving average is $47.82. General Motors has a 12 month low of $27.93 and a 12 month high of $61.24. The stock has a market capitalization of $66.20 billion, a P/E ratio of 6.42, a price-to-earnings-growth ratio of 0.44 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate 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 return on equity of 16.30% and a net margin of 6.06%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.28 EPS. As a group, analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GM shares. Sanford C. Bernstein lifted their price objective on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. The Goldman Sachs Group increased their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Wolfe Research initiated coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.92.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This trade represents a 52.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,021,556 shares of company stock worth $55,974,057. 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.