Westpac Banking Corp Reduces Holdings in General Motors (GM)

Westpac Banking Corp trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,833 shares of the auto manufacturer’s stock after selling 11,302 shares during the period. Westpac Banking Corp’s holdings in General Motors were worth $3,395,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Schwab Charles Investment Management Inc. raised its holdings in shares of General Motors by 1.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 5,272,310 shares of the auto manufacturer’s stock worth $216,112,000 after purchasing an additional 77,828 shares during the period. Creative Planning increased its holdings in shares of General Motors by 16.6% in the 4th quarter. Creative Planning now owns 59,246 shares of the auto manufacturer’s stock worth $2,428,000 after acquiring an additional 8,419 shares during the period. Skylands Capital LLC increased its holdings in shares of General Motors by 3.0% in the 4th quarter. Skylands Capital LLC now owns 858,400 shares of the auto manufacturer’s stock worth $35,186,000 after acquiring an additional 25,200 shares during the period. Gofen & Glossberg LLC IL increased its holdings in shares of General Motors by 14.7% in the 4th quarter. Gofen & Glossberg LLC IL now owns 12,458 shares of the auto manufacturer’s stock worth $511,000 after acquiring an additional 1,600 shares during the period. Finally, Ridgewood Investments LLC increased its holdings in shares of General Motors by 22.7% in the 4th quarter. Ridgewood Investments LLC now owns 13,062 shares of the auto manufacturer’s stock worth $535,000 after acquiring an additional 2,418 shares during the period. 72.78% of the stock is currently owned by institutional investors.

In other news, insider Barry L. Engle II sold 50,443 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $2,269,935.00. Following the completion of the transaction, the insider now owns 57,091 shares in the company, valued at approximately $2,569,095. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stefan Jacoby sold 37,961 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the transaction, the executive vice president now owns 98,340 shares of the company’s stock, valued at approximately $4,215,835.80. The disclosure for this sale can be found here. Insiders sold a total of 602,741 shares of company stock valued at $26,678,072 in the last quarter. 0.04% of the stock is currently owned by insiders.

General Motors (NYSE GM) opened at $43.29 on Tuesday. The stock has a market cap of $61,490.00, a PE ratio of 9.37, a P/E/G ratio of 0.79 and a beta of 1.55. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.25. The firm had revenue of $30.48 billion during the quarter, compared to analyst estimates of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. General Motors’s revenue was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. equities analysts forecast that General Motors will post 6.41 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. UBS Group reaffirmed a “buy” rating and issued a $50.00 price objective (up previously from $39.00) on shares of General Motors in a report on Wednesday, October 11th. Vetr cut shares of General Motors from a “strong-buy” rating to a “hold” rating and set a $43.99 price objective on the stock. in a report on Monday, December 4th. Craig Hallum set a $45.00 price objective on shares of General Motors and gave the stock a “hold” rating in a report on Wednesday, October 25th. Royal Bank of Canada raised shares of General Motors from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $51.00 to $52.00 in a report on Tuesday, December 19th. Finally, Barclays reaffirmed a “buy” rating and issued a $60.00 price objective on shares of General Motors in a report on Sunday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $44.02.

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General Motors Company Profile

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

Institutional Ownership by Quarter for General Motors (NYSE:GM)

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