Avior Wealth Management LLC Reduces Stock Holdings in General Motors (NYSE:GM)

Avior Wealth Management LLC reduced its position in General Motors (NYSE:GM) (TSE:GMM.U) by 63.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,248 shares of the auto manufacturer’s stock after selling 17,928 shares during the period. Avior Wealth Management LLC’s holdings in General Motors were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in GM. Chicago Partners Investment Group LLC increased its holdings in General Motors by 15.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after acquiring an additional 1,559 shares during the last quarter. Donald Smith & CO. Inc. boosted its position in General Motors by 12.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares during the period. Foster & Motley Inc. increased its stake in shares of General Motors by 121.5% in the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after purchasing an additional 25,869 shares in the last quarter. Stoneridge Investment Partners LLC raised its position in shares of General Motors by 115.1% in the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after purchasing an additional 95,484 shares during the period. Finally, Olstein Capital Management L.P. lifted its stake in shares of General Motors by 14.9% during the 3rd quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after buying an additional 21,000 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GM has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Monday, December 16th. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Barclays raised their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wedbush upped their price target on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, General Motors has a consensus rating of “Hold” and a consensus target price of $61.17.

Insider Activity

In other news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 514,344 shares of company stock valued at $28,977,691. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Down 0.5 %

Shares of GM opened at $53.95 on Friday. The firm has a market cap of $59.32 billion, a P/E ratio of 5.75, a P/E/G ratio of 0.38 and a beta of 1.42. General Motors has a 1 year low of $34.71 and a 1 year high of $61.24. The stock has a 50 day simple moving average of $53.17 and a two-hundred day simple moving average of $49.85. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03.

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.