ARS Investment Partners LLC raised its holdings in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 30.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 441,440 shares of the auto manufacturer’s stock after acquiring an additional 101,779 shares during the quarter. General Motors makes up approximately 2.1% of ARS Investment Partners LLC’s holdings, making the stock its 18th biggest position. ARS Investment Partners LLC’s holdings in General Motors were worth $23,516,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GM. Benjamin F. Edwards & Company Inc. grew its stake in General Motors by 8.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,487 shares of the auto manufacturer’s stock valued at $254,000 after buying an additional 423 shares during the last quarter. AE Wealth Management LLC boosted its stake in shares of General Motors by 48.7% in the 2nd quarter. AE Wealth Management LLC now owns 10,298 shares of the auto manufacturer’s stock valued at $478,000 after purchasing an additional 3,373 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of General Motors by 4.4% during the 2nd quarter. ProShare Advisors LLC now owns 195,744 shares of the auto manufacturer’s stock valued at $9,094,000 after acquiring an additional 8,276 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in shares of General Motors in the second quarter valued at approximately $220,000. Finally, 1832 Asset Management L.P. lifted its holdings in shares of General Motors by 2.6% during the second quarter. 1832 Asset Management L.P. now owns 61,576 shares of the auto manufacturer’s stock worth $2,861,000 after purchasing an additional 1,566 shares during the period. 92.67% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have commented on GM shares. UBS Group upped their price target on shares of General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Wedbush raised their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Barclays upped their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Mizuho upped their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.68.
General Motors Price Performance
NYSE:GM opened at $50.90 on Tuesday. General Motors has a 12 month low of $34.32 and a 12 month high of $61.24. The firm has a market cap of $55.97 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.37 and a beta of 1.42. 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 stock has a 50 day moving average of $53.60 and a two-hundred day moving average of $49.66.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.28 EPS. On average, analysts expect that General Motors will post 10.34 earnings per share for the current fiscal year.
Insider Buying and Selling
In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated 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 directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rory Harvey sold 9,307 shares of the company’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 transaction of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $459,787.13. This trade represents a 52.23 % 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 ninety days. Company insiders own 0.72% of the company’s stock.
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.
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