Canal Capital Management LLC decreased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 47.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,821 shares of the auto manufacturer’s stock after selling 8,768 shares during the quarter. Canal Capital Management LLC’s holdings in General Motors were worth $518,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. National Pension Service grew its holdings in shares of General Motors by 2.5% during the second quarter. National Pension Service now owns 2,090,749 shares of the auto manufacturer’s stock worth $123,710,000 after buying an additional 50,677 shares in the last quarter. Cannell Peter B & Co. Inc. boosted its stake in shares of General Motors by 32.2% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 714,650 shares of the auto manufacturer’s stock worth $42,286,000 after acquiring an additional 174,010 shares during the period. Amalgamated Bank boosted its stake in shares of General Motors by 476.5% during the 2nd quarter. Amalgamated Bank now owns 394,744 shares of the auto manufacturer’s stock worth $23,357,000 after acquiring an additional 326,267 shares during the period. Regal Investment Advisors LLC acquired a new stake in General Motors during the 2nd quarter worth approximately $1,087,000. Finally, Kentucky Retirement Systems acquired a new stake in General Motors during the 2nd quarter worth approximately $4,399,000. 79.03% of the stock is currently owned by institutional investors and hedge funds.
In other General Motors news, EVP Craig B. Glidden sold 7,204 shares of the business’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $65.00, for a total value of $468,260.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Christopher Hatto sold 7,353 shares of the business’s stock in a transaction that occurred on Wednesday, November 17th. The shares were sold at an average price of $65.00, for a total transaction of $477,945.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 239,084 shares of company stock worth $15,396,763. 0.40% of the stock is owned by insiders.
Several equities analysts have weighed in on GM shares. Zacks Investment Research cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a report on Monday, August 9th. The Goldman Sachs Group reduced their price objective on General Motors from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Sunday, September 26th. Barclays reduced their price target on General Motors from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, October 28th. Morgan Stanley reduced their price target on General Motors from $80.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, November 11th. They noted that the move was a valuation call. Finally, Wells Fargo & Company upped their target price on General Motors from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, October 5th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $69.55.
Shares of NYSE GM opened at $62.19 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.08 and a quick ratio of 0.88. The company has a market cap of $90.29 billion, a P/E ratio of 8.11, a PEG ratio of 0.97 and a beta of 1.19. General Motors has a 1 year low of $40.04 and a 1 year high of $65.18. The firm has a 50-day simple moving average of $57.12 and a two-hundred day simple moving average of $56.20.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Wednesday, October 27th. The auto manufacturer reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.54. The company had revenue of $26.78 billion for the quarter, compared to analyst estimates of $27.88 billion. General Motors had a net margin of 8.50% and a return on equity of 20.41%. General Motors’s revenue was down 24.5% compared to the same quarter last year. During the same period last year, the company posted $2.83 earnings per share. As a group, equities research analysts expect that General Motors will post 6.53 EPS for the current year.
About General Motors
General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.
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