General Motors (NYSE:GM) Position Trimmed by Perpetual Ltd

Perpetual Ltd trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 53.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,471 shares of the auto manufacturer’s stock after selling 23,328 shares during the quarter. Perpetual Ltd’s holdings in General Motors were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

General Motors Stock Performance

NYSE GM opened at $52.77 on Thursday. The company’s fifty day moving average is $53.39 and its two-hundred day moving average is $49.74. The firm has a market capitalization of $58.03 billion, a price-to-earnings ratio of 5.63, a P/E/G ratio of 0.37 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 52-week low of $34.56 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the company posted $2.28 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that General Motors will post 10.34 EPS for the current year.

Wall Street Analysts Forecast Growth

GM has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and boosted their price target for the company from $56.00 to $60.00 in a research note on Tuesday. Wells Fargo & Company decreased their target price on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a research report on Monday, December 16th. Mizuho raised their price target 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. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Wedbush increased their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus price target of $60.05.

Insider Transactions at General Motors

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

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.