Cetera Trust Company N.A Cuts Stake in General Motors (NYSE:GM)

Cetera Trust Company N.A cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,409 shares of the auto manufacturer’s stock after selling 225 shares during the period. General Motors makes up about 1.2% of Cetera Trust Company N.A’s investment portfolio, making the stock its 26th largest holding. Cetera Trust Company N.A’s holdings in General Motors were worth $1,833,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of General Motors by 972.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares during the last quarter. Jennison Associates LLC grew its position in General Motors by 123.1% in the 3rd 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 period. Artemis Investment Management LLP raised its stake in General Motors by 581.4% during the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after buying an additional 1,366,768 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of General Motors by 158.8% during the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after buying an additional 1,332,450 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings 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 valued at $774,766,000 after acquiring an additional 989,750 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wedbush boosted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company cut their price target on General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a research note on Monday, December 16th. Sanford C. Bernstein upped their price target on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Finally, HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus price target of $60.05.

Insider Buying and Selling

In related news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 122,465 shares in the company, 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 a total of 514,344 shares of company stock valued at $28,977,691 over the last 90 days. Insiders own 0.72% of the company’s stock.

General Motors Stock Down 2.3 %

Shares of GM stock opened at $52.63 on Wednesday. General Motors has a fifty-two week low of $34.56 and a fifty-two week high of $61.24. The firm has a market capitalization of $57.87 billion, a PE ratio of 5.61, a P/E/G ratio of 0.37 and a beta of 1.42. 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 simple moving average is $53.39 and its 200-day simple moving average is $49.74.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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. The company had revenue of $48.76 billion for 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 quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. Equities analysts expect that General Motors will post 10.34 earnings per share for the current year.

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.