Magnus Financial Group LLC Invests $241,000 in General Motors (NYSE:GM)

Magnus Financial Group LLC acquired a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, Holdings Channel reports. The firm acquired 4,515 shares of the auto manufacturer’s stock, valued at approximately $241,000.

Several other institutional investors have also recently made changes to their positions in the company. 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 worth $94,300,000 after purchasing an additional 1,906,964 shares during the period. Jennison Associates LLC raised its stake in shares of General Motors by 123.1% in 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 during the period. Artemis Investment Management LLP lifted its position in shares of General Motors by 581.4% during 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 grew its stake 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 valued at $97,374,000 after acquiring an additional 1,332,450 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in 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 acquiring an additional 989,750 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 3.0 %

Shares of NYSE:GM opened at $54.32 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market cap of $59.73 billion, a P/E ratio of 5.79, a PEG ratio of 0.39 and a beta of 1.42. The business has a fifty day moving average of $53.30 and a two-hundred day moving average of $49.76. General Motors has a 52-week low of $34.56 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.28 earnings per share. On average, research analysts expect that General Motors will post 10.34 earnings per share for the current year.

Insider Transactions at General Motors

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owns 122,465 shares in the company, valued at $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 514,344 shares of company stock worth $28,977,691. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GM shares. JPMorgan Chase & Co. lifted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group increased their target price on General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group boosted their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.05.

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.