Prio Wealth Limited Partnership Decreases Stock Holdings in General Motors (NYSE:GM)

Prio Wealth Limited Partnership decreased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 46.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 156,980 shares of the auto manufacturer’s stock after selling 138,412 shares during the period. Prio Wealth Limited Partnership’s holdings in General Motors were worth $7,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital World Investors lifted its holdings in General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after purchasing an additional 6,201,777 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after purchasing an additional 135,717 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares in the last quarter. LSV Asset Management lifted its holdings in General Motors by 2.6% in the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after purchasing an additional 223,260 shares in the last quarter. Finally, ACR Alpine Capital Research LLC lifted its holdings in General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after purchasing an additional 492,693 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GM shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 target price on shares of General Motors in a research note on Wednesday, October 9th. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Friday, October 11th. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has an average rating of “Hold” and an average price target of $55.35.

General Motors Stock Down 0.7 %

Shares of GM traded down $0.33 during midday trading on Monday, hitting $48.85. The company had a trading volume of 2,788,494 shares, compared to its average volume of 15,001,063. The company’s 50-day simple moving average is $47.01 and its 200-day simple moving average is $45.94. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The firm has a market capitalization of $55.74 billion, a P/E ratio of 6.01, a P/E/G ratio of 0.56 and a beta of 1.42. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 EPS. As a group, sell-side analysts expect that General Motors will post 9.95 EPS for the current year.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Paul A. Jacobson purchased 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is owned by company insiders.

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.