Global Trust Asset Management LLC Boosts Stake in General Motors (NYSE:GM)

Global Trust Asset Management LLC lifted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 139.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,204 shares of the auto manufacturer’s stock after purchasing an additional 701 shares during the quarter. Global Trust Asset Management LLC’s holdings in General Motors were worth $64,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Chicago Partners Investment Group LLC grew its position in shares of General Motors by 15.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after purchasing an additional 1,559 shares during the period. Donald Smith & CO. Inc. lifted its stake in General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after buying an additional 175,860 shares in the last quarter. Foster & Motley Inc. boosted its holdings in General Motors by 121.5% in the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after buying an additional 25,869 shares during the last quarter. Stoneridge Investment Partners LLC increased its stake in General Motors by 115.1% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after buying an additional 95,484 shares in the last quarter. Finally, Olstein Capital Management L.P. raised its holdings in shares of General Motors by 14.9% during the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after acquiring an additional 21,000 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity

In other news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the company’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 transaction of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 514,344 shares of company stock valued at $28,977,691. 0.72% of the stock is currently owned by corporate insiders.

General Motors Price Performance

Shares of GM opened at $52.77 on Thursday. The firm has a 50-day simple moving average of $53.39 and a two-hundred day simple moving average of $49.74. The stock has a market cap of $58.03 billion, a PE ratio of 5.63, a P/E/G ratio of 0.37 and a beta of 1.42. General Motors has a 1-year low of $34.56 and a 1-year high of $61.24. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the previous year, the company earned $2.28 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, analysts forecast that General Motors will post 10.34 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on GM. JPMorgan Chase & Co. boosted their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company reduced their target price on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a research report on Monday, December 16th. Wedbush boosted their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Sanford C. Bernstein raised their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $60.05.

About General Motors

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.