CCM Investment Advisers LLC Decreases Stock Position in General Motors (NYSE:GM)

CCM Investment Advisers LLC decreased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 185,870 shares of the auto manufacturer’s stock after selling 3,260 shares during the period. CCM Investment Advisers LLC’s holdings in General Motors were worth $9,901,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Private Advisor Group LLC grew its holdings in General Motors by 0.6% during the second quarter. Private Advisor Group LLC now owns 69,514 shares of the auto manufacturer’s stock worth $3,230,000 after acquiring an additional 439 shares during the period. Andra AP fonden purchased a new position in shares of General Motors during the 2nd quarter valued at approximately $4,929,000. Daiwa Securities Group Inc. boosted its holdings in General Motors by 2.1% during the second quarter. Daiwa Securities Group Inc. now owns 168,469 shares of the auto manufacturer’s stock worth $7,827,000 after buying an additional 3,419 shares in the last quarter. Coldstream Capital Management Inc. grew its position in General Motors by 5.2% during the second quarter. Coldstream Capital Management Inc. now owns 16,068 shares of the auto manufacturer’s stock valued at $747,000 after buying an additional 792 shares during the period. Finally, Angeles Wealth Management LLC purchased a new position in General Motors in the second quarter valued at $230,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GM. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. UBS Group boosted their price objective on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company dropped their price target on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, December 16th. Sanford C. Bernstein upped their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Finally, Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has a consensus rating of “Hold” and an average target price of $59.58.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is currently owned by insiders.

General Motors Trading Down 1.8 %

Shares of NYSE GM traded down $0.90 during trading on Friday, hitting $50.10. 2,546,841 shares of the company were exchanged, compared to its average volume of 7,935,149. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a 12-month low of $34.32 and a 12-month high of $61.24. The company has a fifty day moving average price of $53.95 and a 200-day moving average price of $49.44. The firm has a market capitalization of $55.09 billion, a PE ratio of 5.34, a P/E/G ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.28 EPS. As a group, equities research analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

About General Motors

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.