Olstein Capital Management L.P. Trims Stock Position in General Motors (NYSE:GM)

Olstein Capital Management L.P. decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 24.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,000 shares of the auto manufacturer’s stock after selling 40,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in General Motors were worth $6,499,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Public Sector Pension Investment Board purchased a new stake in General Motors in the second quarter valued at approximately $1,953,000. AXA S.A. raised its position in General Motors by 194.8% in the 2nd quarter. AXA S.A. now owns 196,850 shares of the auto manufacturer’s stock valued at $9,146,000 after purchasing an additional 130,069 shares during the last quarter. MBB Public Markets I LLC boosted its stake in General Motors by 1,078.4% during the 2nd quarter. MBB Public Markets I LLC now owns 80,200 shares of the auto manufacturer’s stock worth $3,726,000 after purchasing an additional 73,394 shares during the period. Maverick Capital Ltd. grew its holdings in shares of General Motors by 18.4% during the second quarter. Maverick Capital Ltd. now owns 21,940 shares of the auto manufacturer’s stock worth $1,019,000 after buying an additional 3,410 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of General Motors by 5.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 803,857 shares of the auto manufacturer’s stock valued at $37,347,000 after purchasing an additional 41,571 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the stock in a transaction on 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 transaction, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares in the company, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 514,344 shares of company stock worth $28,977,691 in the last ninety days. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent research reports. Morgan Stanley raised shares of 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 note on Tuesday, December 10th. Wedbush increased their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Barclays increased their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Sanford C. Bernstein lifted their price target 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. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.17.

General Motors Stock Down 0.5 %

Shares of NYSE GM opened at $53.95 on Friday. The firm’s 50-day moving average is $53.17 and its two-hundred day moving average is $49.85. The company has a market capitalization of $59.32 billion, a PE ratio of 5.75, a price-to-earnings-growth ratio of 0.38 and a beta of 1.42. General Motors has a 12-month low of $34.71 and a 12-month high of $61.24. 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 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.