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

Clear Harbor Asset Management LLC increased its holdings 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 SEC. The firm owned 18,028 shares of the auto manufacturer’s stock after purchasing an additional 4,450 shares during the period. Clear Harbor Asset Management LLC’s holdings in General Motors were worth $960,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. lifted its stake in shares of General Motors by 8.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,487 shares of the auto manufacturer’s stock worth $254,000 after buying an additional 423 shares during the last quarter. AE Wealth Management LLC raised its holdings in 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 acquiring an additional 3,373 shares during the period. ProShare Advisors LLC lifted its position in General Motors by 4.4% during the second quarter. ProShare Advisors LLC now owns 195,744 shares of the auto manufacturer’s stock worth $9,094,000 after acquiring an additional 8,276 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of General Motors during the second quarter worth approximately $220,000. Finally, 1832 Asset Management L.P. grew its position in shares of General Motors by 2.6% in the second quarter. 1832 Asset Management L.P. now owns 61,576 shares of the auto manufacturer’s stock valued at $2,861,000 after purchasing an additional 1,566 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 514,344 shares of company stock valued at $28,977,691 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

General Motors Price Performance

GM stock opened at $53.97 on Wednesday. The stock 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. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The company has a 50 day simple moving average of $53.46 and a 200 day simple moving average of $49.69. General Motors has a 1 year low of $34.56 and a 1 year high of $61.24.

General Motors (NYSE:GM) (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 the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the prior year, the business earned $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts anticipate that General Motors will post 10.34 EPS for the current fiscal year.

Analysts Set New Price Targets

GM has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised 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 report on Tuesday. Sanford C. Bernstein boosted their target price on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. The Goldman Sachs Group raised their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company decreased their target price on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three research 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’s stock. Based on data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus price target of $60.05.

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.