Orion Portfolio Solutions LLC lifted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 11.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,579 shares of the auto manufacturer’s stock after purchasing an additional 1,071 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in General Motors were worth $558,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Alliancebernstein L.P. raised its stake in shares of General Motors by 1.1% in the third quarter. Alliancebernstein L.P. now owns 2,109,171 shares of the auto manufacturer’s stock worth $111,174,000 after buying an additional 22,097 shares during the period. Hoylecohen LLC raised its stake in General Motors by 1.2% during the 3rd quarter. Hoylecohen LLC now owns 50,203 shares of the auto manufacturer’s stock valued at $2,646,000 after purchasing an additional 590 shares during the period. Skandinaviska Enskilda Banken AB publ raised its stake in General Motors by 8.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 265,119 shares of the auto manufacturer’s stock valued at $13,975,000 after purchasing an additional 19,563 shares during the period. Coastline Trust Co bought a new stake in General Motors during the 3rd quarter valued at approximately $505,000. Finally, Teacher Retirement System of Texas raised its stake in General Motors by 5.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 274,488 shares of the auto manufacturer’s stock valued at $14,468,000 after purchasing an additional 14,374 shares during the period. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
GM has been the topic of several recent analyst reports. Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Wednesday, December 29th. Barclays reduced their price objective on General Motors from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Thursday, October 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Motors from $67.00 to $71.00 in a research note on Thursday. Daiwa Capital Markets downgraded General Motors from an “outperform” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Tuesday, December 14th. Finally, Morgan Stanley reduced their price objective on General Motors from $80.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, November 11th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $72.67.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Wednesday, October 27th. The auto manufacturer reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.54. General Motors had a return on equity of 20.41% and a net margin of 8.50%. The company had revenue of $26.78 billion during the quarter, compared to analysts’ expectations of $27.88 billion. During the same quarter in the previous year, the business earned $2.83 EPS. General Motors’s revenue was down 24.5% compared to the same quarter last year. Equities analysts anticipate that General Motors will post 6.65 EPS for the current fiscal year.
In other General Motors news, President Mark L. Reuss sold 224,527 shares of General Motors stock in a transaction on Wednesday, November 17th. The stock was sold at an average price of $64.36, for a total transaction of $14,450,557.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig B. Glidden sold 14,191 shares of General Motors stock in a transaction on Tuesday, January 4th. The shares were sold at an average price of $65.05, for a total value of $923,124.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 263,317 shares of company stock valued at $16,935,736. 0.40% of the stock is owned by company insiders.
General Motors Profile
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.
Featured Article: Oversold
Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.