Exxonmobil Investment Management Inc. TX decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 15.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 203,266 shares of the auto manufacturer’s stock after selling 36,230 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in General Motors were worth $8,332,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc. increased its position in General Motors by 20.0% in the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after purchasing an additional 10,000,000 shares during the last quarter. Swiss National Bank boosted its stake in General Motors by 1.6% during the third quarter. Swiss National Bank now owns 5,006,857 shares of the auto manufacturer’s stock worth $202,177,000 after buying an additional 81,000 shares during the period. Alyeska Investment Group L.P. boosted its stake in General Motors by 181.5% during the third quarter. Alyeska Investment Group L.P. now owns 1,809,371 shares of the auto manufacturer’s stock worth $73,062,000 after buying an additional 1,166,696 shares during the period. Dimensional Fund Advisors LP boosted its stake in General Motors by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock worth $601,683,000 after buying an additional 331,621 shares during the period. Finally, Lehman Financial Resources Inc. boosted its stake in General Motors by 6.4% during the third quarter. Lehman Financial Resources Inc. now owns 67,653 shares of the auto manufacturer’s stock worth $2,731,000 after buying an additional 4,050 shares during the period. Institutional investors own 72.58% of the company’s stock.
In other General Motors news, insider Barry L. Engle II sold 50,443 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $43.08, for a total value of $2,173,084.44. Following the sale, the insider now owns 57,091 shares in the company, valued at approximately $2,459,480.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark L. Reuss sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $43.09, for a total value of $1,292,700.00. Following the completion of the sale, the insider now owns 103,052 shares in the company, valued at approximately $4,440,510.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,847 shares of company stock worth $7,363,108. 0.04% of the stock is owned by insiders.
Several research analysts have commented on the stock. Deutsche Bank lifted their price objective on shares of General Motors from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. BMO Capital Markets raised shares of General Motors to a “market perform” rating and boosted their target price for the company from $41.00 to $48.00 in a research note on Wednesday, October 25th. Craig Hallum set a $45.00 target price on shares of General Motors and gave the company a “hold” rating in a research note on Wednesday, October 25th. Royal Bank of Canada boosted their target price on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. Finally, Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $46.48 to $43.00 in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. General Motors currently has an average rating of “Hold” and a consensus target price of $44.03.
General Motors (GM) traded up $0.02 on Thursday, hitting $42.43. 9,629,833 shares of the stock traded hands, compared to its average volume of 11,900,000. The firm has a market capitalization of $60,270.00, a P/E ratio of 9.18, a P/E/G ratio of 0.77 and a beta of 1.55. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54.
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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.
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