General Motors (NYSE:GM) Shares Sold by Olstein Capital Management L.P.

Olstein Capital Management L.P. lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 24.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 122,000 shares of the auto manufacturer’s stock after selling 40,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in General Motors were worth $6,499,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GM. Caisse DE Depot ET Placement DU Quebec raised its holdings in General Motors by 972.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after acquiring an additional 1,906,964 shares during the last quarter. Jennison Associates LLC lifted its position in General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after buying an additional 1,779,897 shares in the last quarter. Artemis Investment Management LLP grew its holdings 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 valued at $71,827,000 after buying an additional 1,366,768 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of General Motors by 158.8% during 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 acquiring an additional 1,332,450 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after acquiring an additional 989,750 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GM has been the topic of a number of analyst reports. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Wednesday, December 11th. Wells Fargo & Company decreased their price objective on General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a report on Monday, December 16th. Sanford C. Bernstein raised their target price on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, UBS Group increased their price target on General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.17.

Insider Activity at General Motors

In related news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction on 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 owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 514,344 shares of company stock worth $28,977,691. Company insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of GM stock opened at $53.95 on Friday. The firm has a 50 day moving average of $53.17 and a two-hundred day moving average of $49.85. The stock has a market capitalization of $59.32 billion, a PE ratio of 5.75, a P/E/G ratio of 0.38 and a beta of 1.42. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a 52 week low of $34.71 and a 52 week high of $61.24.

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.