tru Independence LLC Trims Holdings in General Motors (NYSE:GM)

tru Independence LLC lowered its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 158,043 shares of the auto manufacturer’s stock after selling 12,821 shares during the quarter. General Motors accounts for about 2.6% of tru Independence LLC’s investment portfolio, making the stock its 7th largest holding. tru Independence LLC’s holdings in General Motors were worth $8,419,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after acquiring an additional 1,906,964 shares during the period. Jennison Associates LLC lifted its stake in General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after purchasing an additional 1,779,897 shares in the last quarter. Artemis Investment Management LLP lifted its stake in General Motors by 581.4% in the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after purchasing an additional 1,366,768 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of General Motors by 158.8% in the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after buying an additional 1,332,450 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after buying an additional 989,750 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GM. Royal Bank of Canada upped their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Wedbush increased their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. The Goldman Sachs Group raised their target price on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus price target of $61.17.

General Motors Trading Up 1.1 %

Shares of General Motors stock opened at $54.48 on Monday. The company has a fifty day simple moving average of $53.17 and a 200-day simple moving average of $49.90. General Motors has a 12-month low of $34.93 and a 12-month high of $61.24. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The stock has a market cap of $59.91 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 0.38 and a beta of 1.42.

Insiders Place Their Bets

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 514,344 shares of company stock worth $28,977,691. 0.72% of the stock is owned by insiders.

General Motors Company 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.