Nisa Investment Advisors LLC Acquires 11,550 Shares of General Motors (NYSE:GM)

Nisa Investment Advisors LLC grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,209 shares of the auto manufacturer’s stock after acquiring an additional 11,550 shares during the quarter. Nisa Investment Advisors LLC’s holdings in General Motors were worth $9,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in General Motors by 0.5% during the third 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 during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings 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 worth $774,766,000 after acquiring an additional 989,750 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in General Motors by 3.9% in 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 acquiring an additional 421,989 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in 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 valued at $259,988,000 after acquiring an additional 358,507 shares during the last quarter. Finally, Jennison Associates LLC raised its position in General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after purchasing an additional 1,779,897 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GM. Royal Bank of Canada increased their price objective on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $60.00 in a research note on Tuesday. The Goldman Sachs Group upped their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors has an average rating of “Hold” and a consensus price target of $60.05.

General Motors Stock Up 3.0 %

Shares of NYSE:GM opened at $54.32 on Friday. General Motors has a 12-month low of $34.56 and a 12-month high of $61.24. The stock has a market capitalization of $59.73 billion, a price-to-earnings ratio of 5.79, a PEG ratio of 0.39 and a beta of 1.42. The stock has a fifty day simple moving average of $53.30 and a two-hundred day simple moving average of $49.76. 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 issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. The business 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.28 earnings per share. On average, research analysts anticipate that General Motors will post 10.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company’s stock, valued at $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. Insiders sold a total of 514,344 shares of company stock worth $28,977,691 in the last three months. 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.