Romano Brothers AND Company Buys New Position in General Motors (NYSE:GM)

Romano Brothers AND Company purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,177 shares of the auto manufacturer’s stock, valued at approximately $223,000.

Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of General Motors by 8.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,487 shares of the auto manufacturer’s stock valued at $254,000 after purchasing an additional 423 shares during the period. Benjamin Edwards Inc. raised its position in shares of General Motors by 6.1% in the second quarter. Benjamin Edwards Inc. now owns 5,752 shares of the auto manufacturer’s stock valued at $267,000 after purchasing an additional 332 shares during the period. AE Wealth Management LLC raised its holdings in General Motors by 48.7% in the 2nd quarter. AE Wealth Management LLC now owns 10,298 shares of the auto manufacturer’s stock valued at $478,000 after acquiring an additional 3,373 shares during the period. Summit Trail Advisors LLC lifted its holdings in General Motors by 223.8% during the 2nd quarter. Summit Trail Advisors LLC now owns 32,230 shares of the auto manufacturer’s stock worth $1,497,000 after purchasing an additional 22,277 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of General Motors by 4.4% in the second quarter. ProShare Advisors LLC now owns 195,744 shares of the auto manufacturer’s stock valued at $9,094,000 after acquiring an additional 8,276 shares during the period. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GM has been the topic of a number of analyst reports. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research report on Friday, October 11th. Barclays upped their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company decreased their price objective 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. The Goldman Sachs Group raised their target price on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Wedbush boosted their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors has an average rating of “Hold” and an average target price of $59.68.

General Motors Stock Down 1.8 %

Shares of NYSE GM opened at $50.90 on Monday. The business’s fifty day moving average price is $53.60 and its 200-day moving average price is $49.64. General Motors has a one year low of $34.32 and a one year high of $61.24. The stock has a market capitalization of $55.97 billion, a PE ratio of 5.43, a P/E/G ratio of 0.36 and a beta of 1.42. 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 (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.28 EPS. On average, equities research analysts anticipate that General Motors will post 10.34 EPS for the current year.

Insider Transactions at General Motors

In other news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the sale, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This represents a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is currently owned by corporate insiders.

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.