Janney Montgomery Scott LLC Reduces Holdings in General Motors (NYSE:GM)

Janney Montgomery Scott LLC reduced its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 394,835 shares of the auto manufacturer’s stock after selling 16,977 shares during the period. Janney Montgomery Scott LLC’s holdings in General Motors were worth $21,033,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the 2nd quarter worth approximately $25,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Motors in the fourth quarter worth $31,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors during the 3rd quarter valued at $27,000. Truvestments Capital LLC purchased a new position in shares of General Motors during the 3rd quarter valued at $27,000. Finally, Eastern Bank purchased a new stake in General Motors in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other news, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction that occurred 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 directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 514,344 shares of company stock valued at $28,977,691 in the last ninety days. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Barclays upped their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group boosted their target price on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.17.

General Motors Trading Down 0.5 %

Shares of GM opened at $53.95 on Friday. General Motors has a twelve month low of $34.71 and a twelve 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. The company’s fifty day simple moving average is $53.17 and its 200-day simple moving average is $49.85. The company has a market cap of $59.32 billion, a P/E ratio of 5.75, a P/E/G ratio of 0.38 and a beta of 1.42.

About General Motors

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.