Oregon Public Employees Retirement Fund decreased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,290,238 shares of the auto manufacturer’s stock after selling 105,483 shares during the quarter. General Motors accounts for about 0.7% of Oregon Public Employees Retirement Fund’s holdings, making the stock its 23rd biggest holding. Oregon Public Employees Retirement Fund’s holdings in General Motors were worth $53,726,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Global Trust Asset Management LLC raised its holdings in General Motors by 4,715.4% in the fourth quarter. Global Trust Asset Management LLC now owns 626 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 613 shares in the last quarter. DB Wealth Management Group LLC acquired a new stake in General Motors during the fourth quarter worth approximately $27,000. Danda Trouve Investment Management Inc. raised its holdings in General Motors by 1,200.0% during the fourth quarter. Danda Trouve Investment Management Inc. now owns 650 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 600 shares in the last quarter. New Capital Management LP acquired a new stake in General Motors during the fourth quarter worth approximately $30,000. Finally, Norway Savings Bank acquired a new stake in General Motors during the fourth quarter worth approximately $30,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of General Motors from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective on the stock in a report on Wednesday, November 11th. Argus raised shares of General Motors from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Thursday, January 14th. The Goldman Sachs Group reissued a “buy” rating and set a $52.00 price objective on shares of General Motors in a report on Thursday, December 3rd. Barclays raised their price objective on shares of General Motors from $56.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, February 9th. They noted that the move was a valuation call. Finally, Citigroup raised their price objective on shares of General Motors from $70.00 to $85.00 in a report on Thursday, February 18th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $54.95.
In related news, EVP Gerald Johnson sold 22,776 shares of General Motors stock in a transaction on Monday, December 14th. The shares were sold at an average price of $42.40, for a total value of $965,702.40. Following the transaction, the executive vice president now directly owns 64,053 shares in the company, valued at approximately $2,715,847.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stephen K. Carlisle sold 10,217 shares of General Motors stock in a transaction on Wednesday, December 23rd. The shares were sold at an average price of $42.85, for a total transaction of $437,798.45. Following the completion of the transaction, the executive vice president now owns 65,626 shares in the company, valued at $2,812,074.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 643,604 shares of company stock worth $28,348,245. 0.65% of the stock is currently owned by insiders.
NYSE:GM traded down $1.36 during midday trading on Tuesday, reaching $50.62. The stock had a trading volume of 378,168 shares, compared to its average volume of 28,557,959. The firm has a fifty day simple moving average of $51.06 and a two-hundred day simple moving average of $39.44. General Motors has a 12-month low of $14.32 and a 12-month high of $57.05. The company has a quick ratio of 0.97, a current ratio of 1.11 and a debt-to-equity ratio of 1.70. The stock has a market cap of $72.94 billion, a P/E ratio of 23.31, a P/E/G ratio of 0.85 and a beta of 1.42.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, February 9th. The auto manufacturer reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.33. General Motors had a net margin of 2.92% and a return on equity of 9.78%. The firm had revenue of $37.50 billion for the quarter, compared to analyst estimates of $36.34 billion. During the same period last year, the firm posted $0.05 EPS. General Motors’s quarterly revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts anticipate that General Motors will post 4.68 earnings per share for the current fiscal year.
About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts 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, Holden, Baojun, and Wuling brand names.
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