Recently, several hedge funds and institutional investors shifted their stakes in General Motors (GM). Strategic Investment Solutions bought shares worth $25,000, and Wellington Shields Capital Management bought shares worth $28,000 in the second quarter. Fortitude Family Office increased its holdings in GM by 56.1%, owning 626 shares valued at $29,000. Montag A & Associates acquired a $30,000 stake in the first quarter, while EdgeRock Capital invested around $33,000 in the second quarter. Overall, 92.67% of GM’s shares are owned by institutional investors and hedge funds.
Insider Transactions at General Motors
In July, CFO Paul A. Jacobson bought 25,000 shares at $44.11 each, totaling approximately $1.1 million, raising his total to 261,872 shares valued at about $11.55 million. EVP Rory Harvey sold 12,795 shares at an average price of $49.02, which decreased his total holdings to 8,513 shares valued at $417,307. Company insiders own 0.72% of GM.
General Motors Trading Performance
On Monday, GM shares opened at $49.18. The stock has ranged between $26.30 and $50.50 over the last year. GM reported strong quarterly earnings on July 23, with earnings per share (EPS) of $3.06, exceeding estimates of $2.67. Revenue was $47.97 billion, surpassing the expected $45.13 billion.
Analyst Ratings Changes
Analysts have issued mixed ratings for GM. JPMorgan raised its target price to $61.00, while Wolfe Research gave it a “peer perform” rating. Goldman Sachs also increased its target price to $61.00 with a “buy” rating. Currently, MarketBeat.com reports a consensus rating of “Hold” with a target price of $55.35.
General Motors Profile
General Motors designs and sells vehicles and parts globally. It operates under several brands, including Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling.
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