Ballentine Partners LLC Increases Stock Holdings in General Motors (NYSE:GM)

Ballentine Partners LLC increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 17,150 shares of the auto manufacturer’s stock after acquiring an additional 589 shares during the period. Ballentine Partners LLC’s holdings in General Motors were worth $914,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GM. Geode Capital Management LLC lifted its position in shares of General Motors by 0.5% during the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after purchasing an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in 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 buying an additional 989,750 shares during the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of General Motors by 3.9% during 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 acquiring an additional 421,989 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of General Motors by 6.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock worth $259,988,000 after acquiring an additional 358,507 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of General Motors by 123.1% in the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after acquiring an additional 1,779,897 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction on Monday, November 25th. The shares were 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 of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 514,344 shares of company stock valued at $28,977,691. Company insiders own 0.72% of the company’s stock.

General Motors Price Performance

NYSE GM opened at $52.77 on Thursday. General Motors has a 1 year low of $34.56 and a 1 year high of $61.24. The business’s fifty day moving average is $53.39 and its two-hundred day moving average is $49.74. The stock has a market capitalization of $58.03 billion, a P/E ratio of 5.63, 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.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its 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. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the company posted $2.28 earnings per share. On average, research analysts forecast that General Motors will post 10.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GM has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, December 16th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HSBC downgraded 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 note on Wednesday, December 11th. JPMorgan Chase & Co. upped 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. Finally, DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.05.

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.