Bleakley Financial Group LLC Increases Position in General Motors (NYSE:GM)

Bleakley Financial Group LLC grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,026 shares of the auto manufacturer’s stock after purchasing an additional 449 shares during the period. Bleakley Financial Group LLC’s holdings in General Motors were worth $808,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GM. Wedmont Private Capital grew its position in General Motors by 10.4% during the first quarter. Wedmont Private Capital now owns 6,557 shares of the auto manufacturer’s stock valued at $293,000 after acquiring an additional 619 shares during the last quarter. Park Avenue Securities LLC raised its position in General Motors by 16.7% in the 1st quarter. Park Avenue Securities LLC now owns 29,293 shares of the auto manufacturer’s stock worth $1,328,000 after purchasing an additional 4,185 shares during the period. &PARTNERS bought a new stake in General Motors in the first quarter worth $238,000. Ballentine Partners LLC boosted its position in General Motors by 52.6% during the first quarter. Ballentine Partners LLC now owns 15,247 shares of the auto manufacturer’s stock valued at $691,000 after buying an additional 5,256 shares during the period. Finally, CHICAGO TRUST Co NA bought a new position in shares of General Motors during the first quarter valued at about $401,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. UBS Group raised their target price on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price target on shares of General Motors in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Motors currently has an average rating of “Hold” and a consensus target price of $55.35.

Insider Buying and Selling at General Motors

In other news, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

General Motors Price Performance

Shares of NYSE GM opened at $49.18 on Monday. The company has a 50 day simple moving average of $47.01 and a two-hundred day simple moving average of $45.94. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50. The company has a market capitalization of $56.11 billion, a price-to-earnings ratio of 6.01, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts expect that General Motors will post 9.95 EPS for the current fiscal year.

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.