Balasa Dinverno & Foltz LLC Sells 2,847 Shares of General Motors (NYSE:GM)

Balasa Dinverno & Foltz LLC reduced its stake in shares of General Motors (NYSE:GMGet Rating) (TSE:GMM.U) by 8.5% during the 1st quarter, HoldingsChannel reports. The fund owned 30,631 shares of the auto manufacturer’s stock after selling 2,847 shares during the period. Balasa Dinverno & Foltz LLC’s holdings in General Motors were worth $1,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GM. Veriti Management LLC increased its holdings in shares of General Motors by 0.8% during the 4th quarter. Veriti Management LLC now owns 20,650 shares of the auto manufacturer’s stock worth $1,211,000 after buying an additional 172 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of General Motors by 6.3% during the 4th quarter. Lindbrook Capital LLC now owns 2,927 shares of the auto manufacturer’s stock worth $172,000 after purchasing an additional 174 shares during the last quarter. HNP Capital LLC lifted its position in shares of General Motors by 1.8% during the 4th quarter. HNP Capital LLC now owns 11,305 shares of the auto manufacturer’s stock worth $663,000 after purchasing an additional 200 shares during the last quarter. Northeast Investment Management lifted its position in General Motors by 3.6% in the fourth quarter. Northeast Investment Management now owns 5,780 shares of the auto manufacturer’s stock valued at $339,000 after acquiring an additional 200 shares during the last quarter. Finally, Boenning & Scattergood Inc. lifted its position in General Motors by 1.0% in the fourth quarter. Boenning & Scattergood Inc. now owns 21,042 shares of the auto manufacturer’s stock valued at $1,234,000 after acquiring an additional 201 shares during the last quarter. 82.66% of the stock is currently owned by institutional investors.

In related news, EVP Stephen K. Carlisle sold 25,645 shares of the stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $39.04, for a total transaction of $1,001,180.80. Following the completion of the sale, the executive vice president now directly owns 64,170 shares of the company’s stock, valued at approximately $2,505,196.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Paul A. Jacobson bought 35,000 shares of the stock in a transaction that occurred on Thursday, April 28th. The shares were acquired at an average cost of $38.79 per share, with a total value of $1,357,650.00. Following the completion of the purchase, the chief financial officer now owns 110,000 shares in the company, valued at approximately $4,266,900. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.

Shares of NYSE GM opened at $32.37 on Wednesday. The firm’s 50-day simple moving average is $36.09 and its 200 day simple moving average is $44.41. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 5.37, a price-to-earnings-growth ratio of 0.47 and a beta of 1.25. The company has a quick ratio of 0.93, a current ratio of 1.11 and a debt-to-equity ratio of 1.15. General Motors has a 12-month low of $30.33 and a 12-month high of $67.21.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 26th. The auto manufacturer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.53. The firm had revenue of $35.98 billion during the quarter, compared to analysts’ expectations of $36.25 billion. General Motors had a return on equity of 16.37% and a net margin of 7.61%. During the same period in the previous year, the business posted $2.25 EPS. On average, equities analysts expect that General Motors will post 6.89 earnings per share for the current year.

A number of research analysts have commented on GM shares. Benchmark dropped their price objective on shares of General Motors from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, March 11th. Royal Bank of Canada reduced their price target on shares of General Motors from $70.00 to $58.00 in a report on Wednesday, April 27th. BNP Paribas started coverage on shares of General Motors in a report on Monday, April 11th. They issued an “outperform” rating on the stock. Citigroup reduced their price objective on shares of General Motors from $98.00 to $87.00 in a research note on Wednesday, June 1st. Finally, Wedbush reduced their price objective on shares of General Motors from $85.00 to $50.00 in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.17.

General Motors Profile (Get Rating)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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

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