P.R. Herzig & Co. Inc. Trims Stake in General Motors Company (GM)
P.R. Herzig & Co. Inc. lessened its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 9.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,050 shares of the auto manufacturer’s stock after selling 7,500 shares during the period. General Motors makes up approximately 5.4% of P.R. Herzig & Co. Inc.’s investment portfolio, making the stock its 2nd largest position. P.R. Herzig & Co. Inc.’s holdings in General Motors were worth $2,788,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. YorkBridge Wealth Partners LLC boosted its holdings in shares of General Motors by 43.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after acquiring an additional 860 shares during the period. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of General Motors during the first quarter worth approximately $106,000. FNY Managed Accounts LLC bought a new stake in shares of General Motors during the first quarter worth approximately $107,000. State of Alaska Department of Revenue boosted its holdings in shares of General Motors by 10.5% during the second quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after acquiring an additional 310 shares during the period. Finally, Ffcm LLC boosted its holdings in shares of General Motors by 2,008.1% during the second quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after acquiring an additional 3,213 shares during the period. Institutional investors own 72.21% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. UBS AG restated a “buy” rating and set a $50.00 price objective (up previously from $39.00) on shares of General Motors in a report on Wednesday, October 11th. Buckingham Research restated a “hold” rating on shares of General Motors in a report on Thursday, August 24th. Zacks Investment Research cut General Motors from a “hold” rating to a “strong sell” rating in a research note on Monday, July 24th. BidaskClub cut General Motors from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $43.00 price target (up from $40.00) on shares of General Motors in a research note on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $42.50.
In other news, insider Karl-Thomas Neumann sold 234,274 shares of General Motors stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $34.77, for a total transaction of $8,145,706.98. Following the completion of the sale, the insider now directly owns 234,274 shares of the company’s stock, valued at approximately $8,145,706.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas S. Timko sold 17,255 shares of General Motors stock in a transaction on Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the sale, the vice president now directly owns 26,100 shares of the company’s stock, valued at $934,119. The disclosure for this sale can be found here. Insiders have sold a total of 852,901 shares of company stock valued at $32,378,733 over the last ninety days. 0.04% of the stock is currently owned by insiders.
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Shares of General Motors Company (NYSE:GM) traded down 0.31% on Monday, hitting $45.47. 2,402,318 shares of the stock traded hands. The stock has a 50-day moving average price of $41.31 and a 200 day moving average price of $36.27. General Motors Company has a 52 week low of $30.21 and a 52 week high of $46.11. The firm has a market cap of $66.26 billion, a P/E ratio of 7.91 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The company had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. During the same period in the previous year, the firm posted $1.86 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that General Motors Company will post $6.12 EPS for the current fiscal year.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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