General Motors (NYSE:GM) Position Increased by ARS Investment Partners LLC

ARS Investment Partners LLC lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 30.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 441,440 shares of the auto manufacturer’s stock after acquiring an additional 101,779 shares during the quarter. General Motors comprises about 2.1% of ARS Investment Partners LLC’s investment portfolio, making the stock its 18th largest position. ARS Investment Partners LLC’s holdings in General Motors were worth $23,516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GM. Geode Capital Management LLC lifted its position 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 buying an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after purchasing an additional 989,750 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after purchasing an additional 421,989 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in General Motors by 6.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock worth $259,988,000 after buying an additional 358,507 shares during the period. Finally, Jennison Associates LLC lifted its stake in General Motors by 123.1% during 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. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

NYSE:GM opened at $50.90 on Tuesday. General Motors has a fifty-two week low of $34.32 and a fifty-two week high of $61.24. The firm has a market capitalization of $55.97 billion, a PE ratio of 5.43, a PEG 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 fifty day moving average is $53.60 and its 200 day moving average is $49.66.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The firm 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%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 EPS. On average, sell-side analysts anticipate that General Motors will post 10.34 earnings per share for the current year.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GM has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. raised their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Royal Bank of Canada upped their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $59.68.

General Motors Company 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.