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

Brooklyn Investment Group bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,996 shares of the auto manufacturer’s stock, valued at approximately $134,000.

A number of other large investors 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 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors in the 3rd quarter valued at about $27,000. Truvestments Capital LLC bought a new position in shares of General Motors in the 3rd quarter valued at about $27,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors in the 2nd quarter valued at about $28,000. Finally, Fortitude Family Office LLC grew its holdings in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GM. Royal Bank of Canada raised their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. UBS Group raised 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. Barclays raised their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wolfe Research started coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. lifted their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.92.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the business’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 directly owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is currently owned by insiders.

General Motors Stock Up 1.3 %

Shares of GM opened at $55.50 on Thursday. General Motors has a one year low of $28.33 and a one year high of $61.24. The company has a market cap of $61.03 billion, a P/E ratio of 5.92, a P/E/G ratio of 0.45 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $51.29 and a two-hundred day simple moving average of $47.94.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 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 business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the previous year, the business earned $2.28 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. Research analysts forecast that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

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

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.