Brighton Jones LLC lifted its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 456.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,717 shares of the auto manufacturer's stock after acquiring an additional 31,755 shares during the period. Brighton Jones LLC's holdings in General Motors were worth $2,062,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in shares of General Motors by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer's stock worth $1,055,395,000 after purchasing an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer's stock worth $774,766,000 after purchasing an additional 989,750 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of General Motors by 3.9% during 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 purchasing an additional 421,989 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of General Motors by 6.6% during 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 purchasing an additional 358,507 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of General Motors by 123.1% in the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer's stock worth $144,655,000 after purchasing an additional 1,779,897 shares during the last quarter. 92.67% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on GM. Morgan Stanley raised shares of General Motors from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. DZ Bank cut General Motors from a "buy" rating to a "hold" rating and set a $49.00 target price for the company. in a report on Friday, October 11th. Royal Bank of Canada raised their price target on General Motors from $58.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased 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. Finally, Wedbush upped their price target on General Motors from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors has a consensus rating of "Hold" and a consensus target price of $61.17.
Read Our Latest Analysis on GM
General Motors Price Performance
Shares of GM traded down $0.27 during trading hours on Friday, hitting $53.95. 6,618,712 shares of the stock were exchanged, compared to its average volume of 6,819,393. The stock's 50-day moving average price is $53.17 and its two-hundred day moving average price is $49.85. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The company has a market cap of $59.32 billion, a price-to-earnings ratio of 5.75, a price-to-earnings-growth ratio of 0.38 and a beta of 1.42. General Motors has a 12-month low of $34.71 and a 12-month high of $61.24.
General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share 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 firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the firm posted $2.28 earnings per share. The company's revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts expect that General Motors will post 10.34 earnings per share for the current year.
Insider Activity
In other General Motors news, EVP Rory Harvey sold 8,919 shares of General Motors 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 transaction, the executive vice president now directly owns 8,513 shares of the company's stock, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the business'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. The trade was a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 514,344 shares of company stock worth $28,977,691 over the last ninety days. Corporate insiders own 0.72% of the company's stock.
About General Motors
(
Free Report)
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.
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