MassMutual Private Wealth & Trust FSB Trims Stock Position in General Motors (NYSE:GM)

MassMutual Private Wealth & Trust FSB trimmed its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 16.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,009 shares of the auto manufacturer’s stock after selling 18,794 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in General Motors were worth $5,221,000 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 stock. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the second quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors in the 3rd quarter valued at about $27,000. Truvestments Capital LLC purchased a new position in General Motors during the 3rd quarter worth approximately $27,000. Fairscale Capital LLC acquired a new position in General Motors during the second quarter worth approximately $36,000. Finally, Eastern Bank purchased a new stake in General Motors in the third quarter valued at approximately $34,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GM. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. The Goldman Sachs Group raised their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. UBS Group upped their price objective on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Barclays lifted their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $59.68.

General Motors Stock Performance

GM opened at $50.90 on Tuesday. General Motors has a 1-year low of $34.32 and a 1-year high of $61.24. The stock has a market cap of $55.97 billion, a P/E ratio of 5.43, a P/E/G ratio of 0.36 and a beta of 1.42. The stock’s 50 day simple moving average is $53.60 and its 200 day simple moving average is $49.66. 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 (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. General Motors’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.28 earnings per share. As a group, equities analysts anticipate that General Motors will post 10.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 52.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock worth $56,509,286 in the last three months. Corporate insiders own 0.72% of the company’s stock.

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.