General Motors (NYSE:GM) Stock Position Decreased by Ervin Investment Management LLC

Ervin Investment Management LLC lessened its position in General Motors (NYSE:GM) (TSE:GMM.U) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 76,630 shares of the auto manufacturer’s stock after selling 395 shares during the quarter. General Motors makes up about 2.7% of Ervin Investment Management LLC’s portfolio, making the stock its 10th largest holding. Ervin Investment Management LLC’s holdings in General Motors were worth $4,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GM. Benjamin F. Edwards & Company Inc. lifted its position in shares of General Motors by 8.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,487 shares of the auto manufacturer’s stock valued at $254,000 after acquiring an additional 423 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of General Motors by 6.1% in the second quarter. Benjamin Edwards Inc. now owns 5,752 shares of the auto manufacturer’s stock valued at $267,000 after acquiring an additional 332 shares in the last quarter. AE Wealth Management LLC lifted its position in shares of General Motors by 48.7% in the second quarter. AE Wealth Management LLC now owns 10,298 shares of the auto manufacturer’s stock valued at $478,000 after acquiring an additional 3,373 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of General Motors by 223.8% in the second quarter. Summit Trail Advisors LLC now owns 32,230 shares of the auto manufacturer’s stock valued at $1,497,000 after acquiring an additional 22,277 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of General Motors by 4.4% in the second quarter. ProShare Advisors LLC now owns 195,744 shares of the auto manufacturer’s stock valued at $9,094,000 after acquiring an additional 8,276 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GM shares. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Royal Bank of Canada increased their price target on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. The Goldman Sachs Group increased their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Mizuho raised their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Sanford C. Bernstein raised their target price on 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 research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.68.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares in the company, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,030,475 shares of company stock worth $56,509,286. Corporate insiders own 0.72% of the company’s stock.

General Motors Trading Down 1.8 %

NYSE:GM opened at $50.90 on Monday. The firm has a market cap of $55.97 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.36 and a beta of 1.42. The stock has a fifty day moving average price of $53.60 and a 200 day moving average price of $49.64. General Motors has a 12-month low of $34.32 and a 12-month high of $61.24. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

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