Clear Harbor Asset Management LLC Purchases 4,450 Shares of General Motors (NYSE:GM)

Clear Harbor Asset Management LLC increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 32.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,028 shares of the auto manufacturer’s stock after buying an additional 4,450 shares during the period. Clear Harbor Asset Management LLC’s holdings in General Motors were worth $960,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors in the third quarter worth $27,000. Truvestments Capital LLC bought a new stake in General Motors in the third quarter valued at $27,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Motors during the fourth quarter valued at about $31,000. Finally, Eastern Bank bought a new position in shares of General Motors during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GM. Wedbush upped their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company lowered their target price on General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a research report on Monday, December 16th. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $60.00 in a report on Tuesday. Finally, Sanford C. Bernstein lifted their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Motors currently has an average rating of “Hold” and an average target price of $60.05.

General Motors Price Performance

General Motors stock opened at $53.97 on Wednesday. The business’s 50 day simple moving average is $53.46 and its 200 day simple moving average is $49.69. General Motors has a 12 month low of $34.56 and a 12 month high of $61.24. The company has a market cap of $59.34 billion, a price-to-earnings ratio of 5.75, a PEG 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.

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, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the company earned $2.28 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts forecast that General Motors will post 10.34 EPS for the current year.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 122,283 shares of General Motors 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 completion of the transaction, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 514,344 shares of company stock worth $28,977,691 over the last quarter. 0.72% of the stock is currently owned by company insiders.

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.