Norway Savings Bank acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 717 shares of the auto manufacturer’s stock, valued at approximately $30,000.
Other institutional investors have also recently modified their holdings of the company. Advisor Partners LLC boosted its stake in shares of General Motors by 6.1% during the 3rd quarter. Advisor Partners LLC now owns 35,179 shares of the auto manufacturer’s stock worth $1,041,000 after acquiring an additional 2,033 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in General Motors by 11.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 228,273 shares of the auto manufacturer’s stock worth $6,754,000 after purchasing an additional 22,628 shares during the period. Louisiana State Employees Retirement System boosted its position in General Motors by 22.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 78,200 shares of the auto manufacturer’s stock worth $3,256,000 after purchasing an additional 14,300 shares in the last quarter. Wedbush Securities Inc. grew its holdings in General Motors by 15.5% in the third quarter. Wedbush Securities Inc. now owns 22,955 shares of the auto manufacturer’s stock valued at $679,000 after purchasing an additional 3,084 shares during the period. Finally, TIAA FSB increased its position in shares of General Motors by 8.7% in the third quarter. TIAA FSB now owns 28,224 shares of the auto manufacturer’s stock valued at $835,000 after buying an additional 2,262 shares in the last quarter. Institutional investors and hedge funds own 74.27% of the company’s stock.
In other news, EVP Stephen K. Carlisle sold 91,026 shares of General Motors stock in a transaction that occurred on Tuesday, January 12th. The shares were sold at an average price of $46.96, for a total transaction of $4,274,580.96. Following the sale, the executive vice president now owns 106,024 shares of the company’s stock, valued at approximately $4,978,887.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christopher Hatto sold 8,148 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $36.00, for a total value of $293,328.00. Following the completion of the transaction, the chief accounting officer now owns 10,040 shares in the company, valued at $361,440. The disclosure for this sale can be found here. Insiders have sold 1,929,301 shares of company stock worth $83,297,074 over the last ninety days. 0.65% of the stock is owned by insiders.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Thursday, November 5th. The auto manufacturer reported $2.83 earnings per share for the quarter, beating the consensus estimate of $1.47 by $1.36. General Motors had a net margin of 2.92% and a return on equity of 9.78%. The firm had revenue of $35.48 billion for the quarter, compared to analysts’ expectations of $35.35 billion. During the same quarter in the previous year, the company posted $1.72 EPS. The company’s revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts forecast that General Motors will post 4.37 EPS for the current year.
GM has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of General Motors from $44.00 to $53.00 and gave the company an “overweight” rating in a research note on Wednesday, November 25th. Credit Suisse Group reiterated a “buy” rating and issued a $56.00 target price on shares of General Motors in a research report on Monday, December 7th. Royal Bank of Canada upped their price target on shares of General Motors from $44.00 to $49.00 and gave the stock an “outperform” rating in a research report on Friday, November 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on General Motors from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Finally, ValuEngine lowered General Motors from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.33.
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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