General Motors Company $GM Stock Position Lowered by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC lowered its position in shares of General Motors Company (NYSE:GMFree Report) (TSE:GMM.U) by 55.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,340 shares of the auto manufacturer’s stock after selling 29,697 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in General Motors were worth $1,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Steigerwald Gordon & Koch Inc. acquired a new stake in General Motors in the 3rd quarter valued at about $29,000. Trust Co. of Toledo NA OH acquired a new stake in General Motors during the second quarter valued at approximately $25,000. GFG Capital LLC bought a new stake in General Motors during the second quarter worth approximately $27,000. Armstrong Advisory Group Inc. grew its position in General Motors by 94.6% in the third quarter. Armstrong Advisory Group Inc. now owns 545 shares of the auto manufacturer’s stock worth $33,000 after buying an additional 265 shares during the last quarter. Finally, RMG Wealth Management LLC acquired a new stake in shares of General Motors during the 2nd quarter valued at $32,000. 92.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GM has been the subject of several analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $98.00 target price on shares of General Motors in a report on Thursday, January 15th. Citigroup lifted their target price on shares of General Motors from $86.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Tigress Financial upped their price target on shares of General Motors from $88.00 to $92.00 and gave the company a “strong-buy” rating in a research report on Friday, October 24th. Morgan Stanley upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $54.00 to $90.00 in a research report on Monday, December 8th. Finally, UBS Group restated a “buy” rating on shares of General Motors in a report on Friday, January 9th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.00.

View Our Latest Research Report on General Motors

Key Headlines Impacting General Motors

Here are the key news stories impacting General Motors this week:

Insider Activity

In related news, CAO Christopher Hatto sold 7,724 shares of General Motors stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $72.00, for a total transaction of $556,128.00. Following the completion of the sale, the chief accounting officer owned 12,007 shares of the company’s stock, valued at approximately $864,504. This trade represents a 39.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

General Motors Stock Down 1.8%

GM stock opened at $79.65 on Friday. The company has a 50 day moving average of $78.57 and a two-hundred day moving average of $65.86. The company has a market cap of $74.30 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 0.62 and a beta of 1.31. General Motors Company has a 12-month low of $41.60 and a 12-month high of $85.18. The company has a quick ratio of 1.06, a current ratio of 1.23 and a debt-to-equity ratio of 1.40.

About General Motors

(Free Report)

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.

Further Reading

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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