General Motors (NYSE:GM) Stake Lessened by Perpetual Ltd

Perpetual Ltd trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 53.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors during the 2nd quarter valued at approximately $25,000. Sugar Maple Asset Management LLC acquired a new stake in shares of General Motors during the fourth quarter worth $31,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors in the 3rd quarter worth about $27,000. Truvestments Capital LLC acquired a new position in shares of General Motors in the 3rd quarter valued at about $27,000. Finally, Eastern Bank bought a new stake in shares of General Motors during the 3rd quarter valued at about $34,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. Barclays upped their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Mizuho lifted their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Three 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.05.

General Motors Price Performance

Shares of NYSE GM opened at $52.77 on Thursday. General Motors has a twelve month low of $34.56 and a twelve month high of $61.24. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average of $53.39 and a two-hundred day moving average of $49.74. The company has a market capitalization of $58.03 billion, a price-to-earnings ratio of 5.63, a PEG ratio of 0.37 and a beta of 1.42.

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 for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The firm 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 firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $2.28 earnings per share. As a group, analysts expect that General Motors will post 10.34 earnings per share for the current fiscal year.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were 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 approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 514,344 shares of company stock worth $28,977,691. 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.