Janney Montgomery Scott LLC Sells 16,977 Shares of General Motors (NYSE:GM)

Janney Montgomery Scott LLC cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,835 shares of the auto manufacturer’s stock after selling 16,977 shares during the quarter. Janney Montgomery Scott LLC’s holdings in General Motors were worth $21,033,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC boosted its holdings in shares of General Motors by 15.9% in the third quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after acquiring an additional 1,559 shares during the period. Donald Smith & CO. Inc. boosted its stake in General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares during the period. Foster & Motley Inc. grew its holdings in General Motors by 121.5% during the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after buying an additional 25,869 shares in the last quarter. Stoneridge Investment Partners LLC increased its position in shares of General Motors by 115.1% during the third quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock valued at $8,001,000 after buying an additional 95,484 shares during the period. Finally, Olstein Capital Management L.P. lifted its holdings in shares of General Motors by 14.9% in the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock worth $7,264,000 after buying an additional 21,000 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In other news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 514,344 shares of company stock valued at $28,977,691 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Performance

Shares of GM opened at $53.95 on Friday. The company has a market cap of $59.32 billion, a price-to-earnings ratio of 5.75, a P/E/G ratio of 0.38 and a beta of 1.42. The business’s fifty day simple moving average is $53.17 and its two-hundred day simple moving average is $49.85. General Motors has a 12 month low of $34.71 and a 12 month high of $61.24. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

Analyst Upgrades and Downgrades

GM has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Mizuho upped their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Royal Bank of Canada upped their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research report on Friday, October 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.17.

General Motors 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.