Verdence Capital Advisors LLC Acquires 10,344 Shares of General Motors Company $GM

Verdence Capital Advisors LLC boosted its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 27.6% during the 3rd quarter, Holdings Channel reports. The firm owned 47,887 shares of the auto manufacturer’s stock after acquiring an additional 10,344 shares during the period. Verdence Capital Advisors LLC’s holdings in General Motors were worth $2,920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in GM. Brighton Jones LLC grew its position in General Motors by 456.1% during the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer’s stock valued at $2,062,000 after buying an additional 31,755 shares during the period. Sivia Capital Partners LLC grew its position in shares of General Motors by 61.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 18,548 shares of the auto manufacturer’s stock valued at $913,000 after acquiring an additional 7,058 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of General Motors by 26.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 196,143 shares of the auto manufacturer’s stock worth $10,374,000 after purchasing an additional 40,589 shares during the last quarter. Diversified Trust Co lifted its stake in General Motors by 50.8% in the second quarter. Diversified Trust Co now owns 22,951 shares of the auto manufacturer’s stock valued at $1,129,000 after purchasing an additional 7,736 shares during the last quarter. Finally, UMB Bank n.a. increased its position in General Motors by 10.2% in the second quarter. UMB Bank n.a. now owns 9,142 shares of the auto manufacturer’s stock worth $450,000 after buying an additional 849 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GM. Royal Bank Of Canada boosted their price objective on General Motors from $77.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Piper Sandler set a $98.00 target price on shares of General Motors and gave the stock an “overweight” rating in a research note on Thursday, January 8th. TD Cowen upped their price target on shares of General Motors from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company raised their price objective on shares of General Motors from $46.00 to $48.00 and gave the stock an “underweight” rating in a report on Tuesday, December 9th. Finally, Benchmark reissued a “buy” rating on shares of General Motors in a report on Wednesday, October 22nd. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.41.

General Motors Trading Down 0.1%

Shares of GM stock opened at $80.79 on Tuesday. The company has a market capitalization of $75.37 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 0.64 and a beta of 1.31. General Motors Company has a 52-week low of $41.60 and a 52-week high of $85.18. The business’s fifty day moving average is $77.89 and its 200 day moving average is $65.18. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.06 and a current ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.48. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The business had revenue of $48.59 billion for the quarter, compared to analyst estimates of $44.60 billion. During the same period in the prior year, the company earned $2.96 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

Insider Activity at General Motors

In other news, President Mark L. Reuss sold 260,600 shares of the stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total value of $17,316,870.00. Following the transaction, the president owned 98,006 shares of the company’s stock, valued at $6,512,498.70. This represents a 72.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher Hatto sold 15,697 shares of the firm’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $70.00, for a total transaction of $1,098,790.00. Following the sale, the chief accounting officer owned 12,007 shares in the company, valued at approximately $840,490. This trade represents a 56.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 284,021 shares of company stock worth $18,971,788. 0.54% of the stock is owned by company insiders.

General Motors Company Profile

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.