Sanders Morris Harris LLC Reduces Stock Holdings in General Motors (NYSE:GM)

Sanders Morris Harris LLC lowered its position in General Motors (NYSE:GM) (TSE:GMM.U) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,090 shares of the auto manufacturer’s stock after selling 5,300 shares during the quarter. Sanders Morris Harris LLC’s holdings in General Motors were worth $2,015,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Citizens Financial Group Inc RI increased its position in shares of General Motors by 758.0% in the second quarter. Citizens Financial Group Inc RI now owns 1,287 shares of the auto manufacturer’s stock valued at $33,000 after buying an additional 1,137 shares in the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of General Motors by 29.8% during the second quarter. Global Wealth Management Investment Advisory Inc. now owns 1,633 shares of the auto manufacturer’s stock valued at $41,000 after acquiring an additional 375 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of General Motors by 714.6% during the second quarter. Larson Financial Group LLC now owns 1,678 shares of the auto manufacturer’s stock valued at $42,000 after acquiring an additional 1,472 shares during the last quarter. Nachman Norwood & Parrott Inc acquired a new stake in shares of General Motors during the third quarter valued at $57,000. Finally, CX Institutional boosted its stake in shares of General Motors by 377.0% during the second quarter. CX Institutional now owns 1,951 shares of the auto manufacturer’s stock valued at $49,000 after acquiring an additional 1,542 shares during the last quarter. Institutional investors and hedge funds own 77.17% of the company’s stock.

A number of analysts recently commented on the company. Bank of America increased their price objective on General Motors from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley increased their price objective on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Tuesday, August 18th. Royal Bank of Canada increased their price objective on General Motors from $39.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, September 10th. Citigroup increased their price objective on General Motors from $53.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Finally, ValuEngine lowered General Motors from a “buy” rating to a “hold” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.38.

Shares of General Motors stock traded up $0.86 during trading hours on Friday, reaching $33.45. The stock had a trading volume of 11,956,111 shares, compared to its average volume of 15,208,248. The firm has a 50 day simple moving average of $30.62 and a two-hundred day simple moving average of $26.53. The firm has a market capitalization of $47.87 billion, a price-to-earnings ratio of 31.86, a P/E/G ratio of 1.30 and a beta of 1.45. The company has a current ratio of 1.12, a quick ratio of 0.99 and a debt-to-equity ratio of 2.00. General Motors has a 1 year low of $14.32 and a 1 year high of $38.96.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Wednesday, July 29th. The auto manufacturer reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($1.72) by $1.22. The company had revenue of $16.80 billion for the quarter, compared to the consensus estimate of $16.93 billion. General Motors had a return on equity of 6.27% and a net margin of 1.46%. The company’s quarterly revenue was down 53.4% compared to the same quarter last year. During the same period last year, the business posted $1.64 EPS. Sell-side analysts forecast that General Motors will post 2.51 EPS for the current year.

General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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