Ritholtz Wealth Management Boosts Holdings in General Motors (NYSE:GM)

Ritholtz Wealth Management raised its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 79.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,564 shares of the auto manufacturer's stock after purchasing an additional 6,892 shares during the quarter. Ritholtz Wealth Management's holdings in General Motors were worth $829,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GM. Chicago Partners Investment Group LLC lifted its position in General Motors by 15.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer's stock valued at $510,000 after buying an additional 1,559 shares during the last quarter. Donald Smith & CO. Inc. lifted its holdings in shares of General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer's stock worth $73,070,000 after acquiring an additional 175,860 shares during the last quarter. Foster & Motley Inc. boosted its position in shares of General Motors by 121.5% during the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer's stock worth $2,115,000 after purchasing an additional 25,869 shares during the period. Stoneridge Investment Partners LLC increased its holdings in General Motors by 115.1% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer's stock valued at $8,001,000 after purchasing an additional 95,484 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its position in General Motors by 14.9% in the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer's stock valued at $7,264,000 after purchasing an additional 21,000 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GM shares. DZ Bank cut shares of General Motors from a "buy" rating to a "hold" rating and set a $49.00 price target on the stock. in a research report on Friday, October 11th. Royal Bank of Canada raised their price target on shares of General Motors from $58.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein upped their price objective on General Motors from $53.00 to $55.00 and gave the stock a "market perform" rating in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their target price on General Motors from $64.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Finally, Wedbush increased their price target on General Motors from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, General Motors has a consensus rating of "Hold" and a consensus price target of $59.68.

General Motors Price Performance

GM stock traded down $0.94 during trading on Monday, reaching $50.90. 9,587,120 shares of the company were exchanged, compared to its average volume of 8,082,761. 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 stock's 50 day moving average price is $53.60 and its 200 day moving average price is $49.66. General Motors has a 52-week low of $34.32 and a 52-week high of $61.24. The company has a market cap of $55.97 billion, a P/E ratio of 5.43, a PEG ratio of 0.36 and a beta of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the previous year, the company earned $2.28 EPS. The company's quarterly revenue was up 10.5% on a year-over-year basis. As a group, analysts predict that General Motors will post 10.34 earnings per share for the current fiscal year.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares of the company's stock, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock valued at $56,509,286 in the last 90 days. 0.72% of the stock is currently owned by insiders.

About General Motors

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.