New Century Financial Group LLC Sells 341 Shares of General Motors (NYSE:GM)

New Century Financial Group LLC lessened its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,308 shares of the auto manufacturer’s stock after selling 341 shares during the period. New Century Financial Group LLC’s holdings in General Motors were worth $462,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Capital World Investors boosted its holdings in shares of General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the period. Bank of New York Mellon Corp boosted its stake in General Motors by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after buying an additional 135,717 shares during the period. Dimensional Fund Advisors LP increased its position in General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after acquiring an additional 1,091,137 shares during the last quarter. LSV Asset Management raised its stake in shares of General Motors by 2.6% in the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after acquiring an additional 223,260 shares during the period. Finally, ACR Alpine Capital Research LLC lifted its holdings in shares of General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after acquiring an additional 492,693 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on GM shares. Barclays increased their price objective on shares of General Motors from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 price target on shares of General Motors in a report on Wednesday, October 9th. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Finally, Wedbush restated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.35.

Insider Activity at General Motors

In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Performance

Shares of General Motors stock opened at $49.18 on Monday. General Motors has a one year low of $26.30 and a one year high of $50.50. The company has a market capitalization of $56.11 billion, a PE ratio of 6.01, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The company has a 50-day simple moving average of $47.01 and a two-hundred day simple moving average of $45.94.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.91 earnings per share. Research analysts expect that General Motors will post 9.95 EPS for the current fiscal year.

General Motors 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.