Brooklyn Investment Group Purchases New Holdings in General Motors (NYSE:GM)

Brooklyn Investment Group purchased a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,996 shares of the auto manufacturer’s stock, valued at approximately $134,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL bought a new position in General Motors during the second quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors during the third quarter valued at approximately $27,000. Truvestments Capital LLC acquired a new stake in General Motors during the third quarter valued at approximately $27,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors during the second quarter valued at approximately $28,000. Finally, Fortitude Family Office LLC boosted its holdings in General Motors by 56.1% during 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. 92.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GM shares. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on General Motors from $33.00 to $38.00 and gave the company an “underweight” 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 report on Wednesday, October 23rd. 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. Finally, Wolfe Research began coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and an average price target of $56.92.

Insider Activity

In related news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $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 a total of 1,030,475 shares of company stock valued at $56,509,286 in the last 90 days. 0.72% of the stock is owned by company insiders.

General Motors Stock Up 1.3 %

Shares of GM opened at $55.50 on Thursday. The firm has a market capitalization of $61.03 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.45 and a beta of 1.40. 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 business’s fifty day moving average price is $51.29 and its two-hundred day moving average price is $47.94. General Motors has a 52 week low of $28.33 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share 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 the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.28 EPS. On average, analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

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

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.