Price T Rowe Associates Inc. MD Sells 837,924 Shares of General Motors (NYSE:GM)

Price T Rowe Associates Inc. MD lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 34.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,589,852 shares of the auto manufacturer’s stock after selling 837,924 shares during the period. Price T Rowe Associates Inc. MD’s holdings in General Motors were worth $84,692,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in General Motors in the 4th quarter valued at approximately $25,000. Crews Bank & Trust bought a new position in shares of General Motors during the fourth quarter valued at $26,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors during the fourth quarter valued at $27,000. Duncker Streett & Co. Inc. increased its holdings in General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after buying an additional 498 shares in the last quarter. Finally, Whittier Trust Co. raised its position in General Motors by 551.9% in the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after buying an additional 425 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GM shares. UBS Group reiterated a “neutral” rating and issued a $51.00 price target (down from $64.00) on shares of General Motors in a research note on Thursday, April 10th. Barclays cut shares of General Motors from an “overweight” rating to a “negative” rating in a report on Tuesday, April 15th. Mizuho decreased their target price on shares of General Motors from $63.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft lowered General Motors from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their target price on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $54.83.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.72% of the company’s stock.

General Motors Stock Performance

Shares of NYSE GM opened at $47.11 on Monday. The stock has a market cap of $46.87 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 0.67 and a beta of 1.27. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a 50 day simple moving average of $46.87 and a two-hundred day simple moving average of $50.34. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its board has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.