ARS Investment Partners LLC Has $23.52 Million Stock Holdings in General Motors (NYSE:GM)

ARS Investment Partners LLC grew its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 30.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 441,440 shares of the auto manufacturer's stock after purchasing an additional 101,779 shares during the quarter. General Motors makes up approximately 2.1% of ARS Investment Partners LLC's holdings, making the stock its 18th biggest holding. ARS Investment Partners LLC's holdings in General Motors were worth $23,516,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new position in General Motors in the second quarter valued at about $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors in the 3rd quarter valued at approximately $27,000. Truvestments Capital LLC bought a new position in General Motors during the 3rd quarter worth approximately $27,000. Sugar Maple Asset Management LLC acquired a new position in General Motors during the fourth quarter valued at approximately $31,000. Finally, Eastern Bank bought a new stake in General Motors in the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were 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 $510,865.13. This represents a 51.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock valued at $56,509,286 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

General Motors Stock Up 5.9 %

Shares of NYSE:GM traded up $3.00 during midday trading on Tuesday, hitting $53.97. The stock had a trading volume of 12,957,761 shares, compared to its average volume of 8,722,135. The company has a market cap of $59.34 billion, a P/E ratio of 5.75, a PEG ratio of 0.37 and a beta of 1.42. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The business's 50-day simple moving average is $53.46 and its 200-day simple moving average is $49.69. General Motors has a 12 month low of $34.56 and a 12 month high of $61.24.

General Motors (NYSE:GM - Get Free Report) 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, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors's revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted $2.28 EPS. On average, sell-side analysts forecast that General Motors will post 10.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GM. Wells Fargo & Company reduced their price target 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. UBS Group boosted their target price on General Motors from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Royal Bank of Canada increased their price target on General Motors from $58.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded General Motors from a "hold" rating to a "buy" rating and lifted their price objective for the company from $56.00 to $60.00 in a report on Tuesday. Finally, Morgan Stanley raised General Motors from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Motors presently has an average rating of "Hold" and an average 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.