General Motors (NYSE:GM) Shares Sold by tru Independence LLC

tru Independence LLC trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,043 shares of the auto manufacturer’s stock after selling 12,821 shares during the quarter. General Motors comprises approximately 2.6% of tru Independence LLC’s holdings, making the stock its 7th largest position. tru Independence LLC’s holdings in General Motors were worth $8,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of General Motors by 116.8% in the fourth quarter. Pacer Advisors Inc. now owns 180,671 shares of the auto manufacturer’s stock worth $9,624,000 after buying an additional 97,341 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in General Motors during the 4th quarter valued at $505,000. Blue Trust Inc. raised its stake in General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after purchasing an additional 1,510 shares during the last quarter. PFG Investments LLC raised its stake in General Motors by 5.9% during the 4th quarter. PFG Investments LLC now owns 14,448 shares of the auto manufacturer’s stock valued at $770,000 after purchasing an additional 806 shares during the last quarter. Finally, Drive Wealth Management LLC acquired a new position in General Motors during the 4th quarter valued at $236,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GM. The Goldman Sachs Group upped their target price 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. 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. Wedbush upped their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 11th. Finally, Barclays upped their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.17.

General Motors Stock Up 1.1 %

NYSE GM opened at $54.48 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a 1-year low of $34.93 and a 1-year high of $61.24. The company has a 50 day moving average of $53.17 and a 200-day moving average of $49.90. The company has a market cap of $59.91 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 0.38 and a beta of 1.42.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were 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 $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % 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. Company insiders own 0.72% of the company’s stock.

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.