Gabelli Funds LLC Grows Stock Holdings in General Motors (NYSE:GM)

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Gabelli Funds LLC boosted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,000 shares of the auto manufacturer’s stock after purchasing an additional 9,000 shares during the quarter. Gabelli Funds LLC’s holdings in General Motors were worth $3,077,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Citizens Financial Group Inc RI raised its stake in General Motors by 758.0% during the second quarter. Citizens Financial Group Inc RI now owns 1,287 shares of the auto manufacturer’s stock valued at $33,000 after purchasing an additional 1,137 shares in the last quarter. Global Wealth Management Investment Advisory Inc. raised its stake in shares of General Motors by 29.8% in the second quarter. Global Wealth Management Investment Advisory Inc. now owns 1,633 shares of the auto manufacturer’s stock valued at $41,000 after acquiring an additional 375 shares during the period. Nachman Norwood & Parrott Inc purchased a new stake in shares of General Motors in the third quarter valued at $57,000. CX Institutional raised its stake in shares of General Motors by 377.0% in the second quarter. CX Institutional now owns 1,951 shares of the auto manufacturer’s stock valued at $49,000 after acquiring an additional 1,542 shares during the period. Finally, RMR Wealth Builders purchased a new stake in shares of General Motors in the second quarter valued at $54,000. 77.17% of the stock is currently owned by institutional investors.

In other General Motors news, CEO Mary T. Barra sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $40.69, for a total transaction of $20,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,808,329 shares of the company’s stock, valued at approximately $73,580,907.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Christopher Hatto sold 8,148 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $36.00, for a total transaction of $293,328.00. Following the transaction, the chief accounting officer now directly owns 10,040 shares of the company’s stock, valued at $361,440. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by company insiders.

NYSE:GM opened at $41.98 on Wednesday. General Motors has a fifty-two week low of $14.32 and a fifty-two week high of $42.54. The stock has a market capitalization of $60.09 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.35 and a beta of 1.33. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.99 and a current ratio of 1.12. The company’s 50-day simple moving average is $34.72 and its 200-day simple moving average is $28.95.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Thursday, November 5th. The auto manufacturer reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $1.36. General Motors had a net margin of 1.46% and a return on equity of 6.27%. The business had revenue of $35.48 billion for the quarter, compared to analysts’ expectations of $35.35 billion. During the same period last year, the business earned $1.72 EPS. The company’s revenue was up .0% compared to the same quarter last year. On average, research analysts forecast that General Motors will post 2.64 EPS for the current year.

GM has been the topic of several recent analyst reports. The Goldman Sachs Group raised shares of General Motors from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 3rd. Royal Bank of Canada increased their target price on shares of General Motors from $44.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, November 6th. JPMorgan Chase & Co. increased their target price on shares of General Motors from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, November 6th. Citigroup raised their price target on shares of General Motors from $53.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, August 4th. Finally, Zacks Investment Research raised shares of General Motors from a “hold” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a research note on Wednesday, November 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $42.50.

General Motors Profile

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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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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