Sugar Maple Asset Management LLC Acquires Shares of 577 General Motors (NYSE:GM)

Sugar Maple Asset Management LLC bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 577 shares of the auto manufacturer’s stock, valued at approximately $31,000.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in General Motors by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock valued at $1,055,395,000 after purchasing an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after buying an additional 989,750 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of General Motors by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after buying an additional 421,989 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of General Motors by 6.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock worth $259,988,000 after buying an additional 358,507 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in General Motors by 123.1% in the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after acquiring an additional 1,779,897 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 5.9 %

Shares of NYSE GM opened at $53.97 on Wednesday. The business has a fifty day simple moving average of $53.46 and a 200-day simple moving average of $49.69. The company has a market cap of $59.34 billion, a price-to-earnings ratio of 5.75, a P/E/G ratio of 0.37 and a beta of 1.42. General Motors has a 12 month low of $34.56 and a 12 month high of $61.24. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company posted $2.28 earnings per share. Sell-side analysts predict that General Motors will post 10.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays raised their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. UBS Group increased their target price on General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. lifted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company reduced their price objective on General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, December 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus price target of $60.05.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the sale, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 514,344 shares of company stock worth $28,977,691. Corporate insiders own 0.72% of the company’s stock.

General Motors 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.