CCM Investment Advisers LLC Decreases Stock Position in General Motors (NYSE:GM)

CCM Investment Advisers LLC decreased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,870 shares of the auto manufacturer’s stock after selling 3,260 shares during the period. CCM Investment Advisers LLC’s holdings in General Motors were worth $9,901,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec grew its position 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 increased its stake in shares of 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 raised 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 worth $71,827,000 after purchasing an additional 1,366,768 shares during the period. National Bank of Canada FI raised its holdings in 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 purchasing an additional 1,332,450 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at $459,787.13. The trade was a 52.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock valued at $56,509,286 in the last quarter. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GM has been the topic of several recent research reports. Mizuho raised their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. Royal Bank of Canada increased their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus target price of $59.58.

General Motors Trading Down 1.8 %

GM traded down $0.90 during trading on Friday, reaching $50.10. The company had a trading volume of 2,546,841 shares, compared to its average volume of 7,935,149. 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 business has a 50 day simple moving average of $53.95 and a 200-day simple moving average of $49.44. The stock has a market cap of $55.09 billion, a P/E ratio of 5.34, a PEG ratio of 0.40 and a beta of 1.42. General Motors has a 52 week low of $34.32 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly 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. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the previous year, the company earned $2.28 EPS. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

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.