Westpac Banking Corp trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 12.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 82,833 shares of the auto manufacturer’s stock after selling 11,302 shares during the period. Westpac Banking Corp’s holdings in General Motors were worth $3,395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in GM. Martingale Asset Management L P acquired a new position in shares of General Motors in the second quarter worth about $492,000. Thrivent Financial For Lutherans lifted its position in shares of General Motors by 5.0% in the second quarter. Thrivent Financial For Lutherans now owns 117,717 shares of the auto manufacturer’s stock worth $4,112,000 after purchasing an additional 5,649 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of General Motors by 18.5% in the second quarter. Rafferty Asset Management LLC now owns 14,614 shares of the auto manufacturer’s stock worth $510,000 after purchasing an additional 2,280 shares in the last quarter. Ropes Wealth Advisors LLC lifted its position in shares of General Motors by 240.2% in the second quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock worth $161,000 after purchasing an additional 3,248 shares in the last quarter. Finally, Waters Parkerson & CO. LLC lifted its position in shares of General Motors by 7.4% in the second quarter. Waters Parkerson & CO. LLC now owns 10,909 shares of the auto manufacturer’s stock worth $381,000 after purchasing an additional 750 shares in the last quarter. Institutional investors own 72.78% of the company’s stock.

In other news, CAO Thomas S. Timko sold 44,791 shares of General Motors stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $44.46, for a total value of $1,991,407.86. Following the transaction, the chief accounting officer now owns 66,838 shares of the company’s stock, valued at $2,971,617.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Charles K. Stevens III sold 265,458 shares of General Motors stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $44.49, for a total transaction of $11,810,226.42. Following the completion of the transaction, the chief financial officer now directly owns 326,510 shares in the company, valued at approximately $14,526,429.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 602,741 shares of company stock worth $26,678,072. Insiders own 0.04% of the company’s stock.

GM has been the subject of a number of research analyst reports. Deutsche Bank raised shares of General Motors from a “hold” rating to a “buy” rating and increased their price target for the stock from $36.00 to $51.00 in a research report on Monday, September 25th. Citigroup reissued a “buy” rating and issued a $53.00 price target on shares of General Motors in a research report on Monday, October 2nd. Bank of America raised shares of General Motors from a “neutral” rating to a “buy” rating and increased their price target for the stock from $40.00 to $57.00 in a research report on Tuesday, October 3rd. Instinet reissued a “buy” rating and issued a $43.00 price target on shares of General Motors in a research report on Tuesday, October 3rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $43.00 price target on shares of General Motors in a research report on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. General Motors presently has an average rating of “Hold” and a consensus target price of $44.02.

General Motors (NYSE GM) opened at $43.29 on Tuesday. The firm has a market cap of $61,490.00, a P/E ratio of 9.37, a P/E/G ratio of 0.79 and a beta of 1.55. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54. General Motors has a 52-week low of $31.92 and a 52-week high of $46.76.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.25. The firm had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.72 earnings per share. equities analysts expect that General Motors will post 6.41 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “General Motors (GM) Holdings Lowered by Westpac Banking Corp” was originally posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international copyright law. The original version of this piece of content can be viewed at https://theolympiareport.com/2018/01/23/general-motors-gm-holdings-lowered-by-westpac-banking-corp.html.

About General Motors

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.

Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors (NYSE:GM) (TSE:GMM.U).

Institutional Ownership by Quarter for General Motors (NYSE:GM)

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.