General Motors Company $GM Stock Holdings Cut by CWA Asset Management Group LLC

Key Points

• CWA Asset Management Group cut its General Motors stake by 8.8% in the third quarter, selling 12,764 shares and retaining 132,776 shares worth approximately $10.2 million.
• Institutional investors own 92.67% of GM’s stock, while several major firms—including BlackRock, UBS and Bank of America—recently established or increased positions.
• GM reported quarterly earnings and revenue above analyst expectations, and analysts maintain a “Moderate Buy” consensus with an average price target of $101.18, compared with a recent share price of $82.60.

CWA Asset Management Group LLC decreased its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,776 shares of the auto manufacturer's stock after selling 12,764 shares during the period. CWA Asset Management Group LLC's holdings in General Motors were worth $10,224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in General Motors during the 2nd quarter worth $5,958,995,000. Dimensional Fund Advisors LP raised its position in General Motors by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 14,225,518 shares of the auto manufacturer's stock valued at $1,059,668,000 after purchasing an additional 77,100 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in General Motors by 1.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,559,990 shares of the auto manufacturer's stock valued at $659,804,000 after purchasing an additional 101,885 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of General Motors during the second quarter worth about $629,465,000. Finally, Legal & General Group Plc bought a new stake in shares of General Motors during the second quarter worth about $599,066,000. Institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

GM stock opened at $82.60 on Tuesday. The stock has a 50-day moving average price of $84.23 and a 200-day moving average price of $81.22. General Motors Company has a 1-year low of $57.68 and a 1-year high of $91.85. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 1.42. The firm has a market cap of $72.48 billion, a PE ratio of 6.67, a price-to-earnings-growth ratio of 0.46 and a beta of 1.40.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 21st. The auto manufacturer reported $3.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.19 by $0.38. General Motors had a return on equity of 18.18% and a net margin of 1.05%. The company had revenue of $48.03 billion for the quarter, compared to the consensus estimate of $47.01 billion. During the same period in the previous year, the business earned $2.53 EPS. The firm's revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts expect that General Motors Company will post 13.53 earnings per share for the current year.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Grant Dixton sold 40,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $88.44, for a total value of $3,537,600.00. Following the transaction, the executive vice president directly owned 54,992 shares of the company's stock, valued at approximately $4,863,492.48. The trade was a 42.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Christopher Hatto sold 6,895 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $90.00, for a total value of $620,550.00. Following the transaction, the chief accounting officer owned 18,899 shares in the company, valued at $1,700,910. The trade was a 26.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 549,665 shares of company stock valued at $49,010,828 over the last ninety days. Insiders own 0.44% of the company's stock.

More General Motors News

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

• Positive Sentiment: Earnings expectations remain favorable. Analysts expect third-quarter earnings of approximately $3.60 per share, up from $2.80 a year earlier, with operating profit of about $4.1 billion on $48.8 billion in revenue. GM has also delivered six consecutive earnings beats, raising the possibility of another upside surprise. GM Earnings Are About to Benefit From a Still-Strong U.S. Auto Market
• Positive Sentiment: Pricing discipline and software growth could offset softer U.S. sales. Analysts say GM appears positioned for another earnings beat, helped by vehicle pricing and expanding software revenue. Investors will look for confirmation in the company’s outlook and margins. General Motors Pre-Q3 Analysis
• Positive Sentiment: Apple Wallet digital-key support improves GM’s technology offering. Select new GM vehicles will support Apple Wallet vehicle keys, a convenience feature that may strengthen the brand’s connected-car ecosystem. GM Adds Apple Wallet Digital Key Support
• Neutral Sentiment: Cadillac’s Formula 1 partnership adds brand visibility. Cadillac F1 is entering a multiyear partnership with Frontieras North America focused on energy transformation. The deal may support marketing but is unlikely to materially affect near-term earnings. Frontieras Joins Cadillac Formula 1 Team
• Negative Sentiment: A possible Lansing plant shutdown raises production and labor concerns. Cadillac CT5 production may end at the facility, potentially leaving the plant idle for as long as 18 months and resulting in approximately 350 layoffs. GM’s Lansing Plant May Go Quiet
• Negative Sentiment: Criticism of GM’s V8 strategy could weigh on product sentiment. New V8 trucks reportedly retain cylinder deactivation, a feature criticized by some owners for adding complexity and affecting driving characteristics. New GM V8 Trucks Keep Cylinder Deactivation

Analyst Ratings Changes

GM has been the subject of several recent research reports. Jefferies Financial Group raised General Motors from a "hold" rating to a "buy" rating and upped their price objective for the company from $90.00 to $99.00 in a research note on Monday, July 27th. Barclays lifted their target price on shares of General Motors from $105.00 to $110.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 22nd. Wells Fargo & Company boosted their target price on shares of General Motors from $60.00 to $61.00 and gave the stock an "underweight" rating in a report on Wednesday, July 22nd. Morgan Stanley upped their price target on shares of General Motors from $100.00 to $101.00 and gave the company an "overweight" rating in a research report on Wednesday, July 22nd. Finally, UBS Group dropped their price target on shares of General Motors from $114.00 to $112.00 and set a "buy" rating for the company in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, General Motors has a consensus rating of "Moderate Buy" and an average target price of $101.18.

About General Motors

General Motors Company NYSE: GM is a global automotive company headquartered in Detroit, Michigan. Founded in 1908, GM designs, manufactures and sells vehicles and related services through brands including Chevrolet, Buick, GMC and Cadillac.

GM's product lineup includes passenger cars, pickup trucks, sport utility vehicles, commercial vehicles and electric vehicles. The company is also developing connected-vehicle technologies, driver-assistance systems and charging and energy-management solutions.

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