Harel Insurance Investments & Financial Services Ltd. Reduces Stock Position in General Motors (NYSE:GM)

Harel Insurance Investments & Financial Services Ltd. lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 57.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,370 shares of the auto manufacturer’s stock after selling 1,824 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in General Motors were worth $73,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chicago Partners Investment Group LLC lifted its stake in General Motors by 15.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after acquiring an additional 1,559 shares during the period. Donald Smith & CO. Inc. raised its holdings in General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares in the last quarter. Foster & Motley Inc. lifted its position in shares of General Motors by 121.5% in the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after purchasing an additional 25,869 shares during the period. Stoneridge Investment Partners LLC increased its position in shares of General Motors by 115.1% during the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after buying an additional 95,484 shares during the period. Finally, Olstein Capital Management L.P. raised its stake in General Motors by 14.9% in the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock worth $7,264,000 after buying an additional 21,000 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on GM shares. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research report on Wednesday, December 11th. The Goldman Sachs Group lifted their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wedbush boosted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.17.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction 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 completion of the sale, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 514,344 shares of company stock worth $28,977,691. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Down 0.5 %

GM stock opened at $53.95 on Friday. The stock has a market capitalization of $59.32 billion, a P/E ratio of 5.75, a P/E/G ratio of 0.38 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. General Motors has a 1-year low of $34.71 and a 1-year high of $61.24. The business has a fifty day moving average price of $53.17 and a 200-day moving average price of $49.85.

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.