Romano Brothers AND Company Makes New $223,000 Investment in General Motors (NYSE:GM)

Romano Brothers AND Company purchased a new position in General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,177 shares of the auto manufacturer’s stock, valued at approximately $223,000.

A number of other hedge funds have also made changes to their positions in GM. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors during the second quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors in the third quarter worth about $27,000. Truvestments Capital LLC purchased a new position in shares of General Motors in the third quarter worth approximately $27,000. Eastern Bank acquired a new stake in shares of General Motors during the third quarter valued at approximately $34,000. Finally, Fairscale Capital LLC purchased a new stake in shares of General Motors in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Down 1.8 %

Shares of GM opened at $50.90 on Monday. The business’s 50 day simple moving average is $53.60 and its 200-day simple moving average is $49.64. General Motors has a one year low of $34.32 and a one year high of $61.24. The company has a market capitalization of $55.97 billion, a P/E ratio of 5.43, a PEG ratio of 0.36 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for 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 firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.28 EPS. As a group, sell-side analysts predict that General Motors will post 10.34 EPS for the current fiscal year.

Insider Activity 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 shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction that occurred 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 approximately $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock valued at $56,509,286 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on GM shares. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Sanford C. Bernstein lifted their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. 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. UBS Group boosted their price objective on shares of General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wedbush increased their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and an average target price of $59.68.

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.