As General Mtrs Co (GM) Share Price Declined, Harris Associates LP Has Lowered Its Holding by $50.58 Million

November 14, 2017 - By Dolores Ford

Investors sentiment decreased to 1.02 in 2017 Q2. Its down 0.06, from 1.08 in 2017Q1. It dropped, as 75 investors sold GM shares while 286 reduced holdings. 71 funds opened positions while 297 raised stakes. 1.03 billion shares or 4.93% less from 1.08 billion shares in 2017Q1 were reported. Palladium Ptnrs Lc accumulated 12,545 shares. Baker Avenue Asset Mngmt LP holds 88,807 shares. Salem Inv Counselors Inc holds 140 shares or 0% of its portfolio. Acr Alpine Capital Ltd Co reported 2.39M shares. National Bank & Trust Of America Corp De holds 14.30M shares or 0.1% of its portfolio. Retirement Of Alabama stated it has 1.63 million shares or 0.31% of all its holdings. Regions Corp stated it has 23,154 shares. Glob Thematic Prtnrs Lc invested in 751,735 shares or 0.85% of the stock. Cwm Ltd Liability holds 0% in General Motors Company (NYSE:GM) or 1,092 shares. Sterling Mngmt Limited Liability Company holds 0.79% or 2.33 million shares in its portfolio. Livforsakringsbolaget Skandia Omsesidigt reported 182,061 shares. 98,052 are owned by Sterneck Capital Mngmt. State Treasurer State Of Michigan owns 451,320 shares or 0.12% of their US portfolio. 31,357 were reported by Ameritas Invest Ptnrs Inc. Pathstone Family Office Limited Liability holds 255 shares or 0.43% of its portfolio.

Harris Associates LP decreased its stake in General Mtrs Co (GM) by 2.33% based on its latest 2017Q2 regulatory filing with the SEC. Harris Associates LP sold 1.49M shares as the company’s stock declined 12.09% while stock markets rallied. The hedge fund held 62.23 million shares of the auto manufacturing company at the end of 2017Q2, valued at $2.17B, down from 63.72M at the end of the previous reported quarter. Harris Associates LP who had been investing in General Mtrs Co for a number of months, seems to be less bullish one the $61.08B market cap company. The stock declined 0.14% or $0.06 reaching $42.94 per share. About 9.37 million shares traded. General Motors Company (NYSE:GM) has risen 7.92% since November 14, 2016 and is uptrending. It has underperformed by 8.78% the S&P500.

Harris Associates L P, which manages about $55.59 billion US Long portfolio, upped its stake in Liberty Broadband Corp by 154,535 shares to 1.83 million shares, valued at $159.17 million in 2017Q2, according to the filing. It also increased its holding in Capital One Finl Corp (NYSE:COF) by 588,664 shares in the quarter, for a total of 8.06M shares, and has risen its stake in National Oilwell Varco Inc (NYSE:NOV).

Analysts await General Motors Company (NYSE:GM) to report earnings on February, 6. They expect $1.31 EPS, up 2.34 % or $0.03 from last year’s $1.28 per share. GM’s profit will be $1.86 billion for 8.19 P/E if the $1.31 EPS becomes a reality. After $1.32 actual EPS reported by General Motors Company for the previous quarter, Wall Street now forecasts -0.76 % negative EPS growth.

More notable recent General Motors Company (NYSE:GM) news were published by: Seekingalpha.com which released: “General Motors Is Still A Good Investment” on November 07, 2017, also Investorplace.com with their article: “General Motors Company Stock Owners to Get Insight on Self-Driving Future” published on November 14, 2017, Investorplace.com published: “Why a Strong Product Mix Will Move General Motors Company Stock to $50” on November 13, 2017. More interesting news about General Motors Company (NYSE:GM) were released by: Seekingalpha.com and their article: “GM brings luxury subscription service to LA and Dallas” published on November 13, 2017 as well as Seekingalpha.com‘s news article titled: “General Motors: Buy And Hold” with publication date: November 13, 2017.

General Motors Company (NYSE:GM) Ratings Coverage

Among 28 analysts covering General Motors Company (NYSE:GM), 13 have Buy rating, 3 Sell and 12 Hold. Therefore 46% are positive. General Motors Company had 78 analyst reports since July 24, 2015 according to SRatingsIntel. The company was downgraded on Wednesday, November 1 by Nomura. Morgan Stanley initiated it with “Underweight” rating and $26 target in Wednesday, February 24 report. Deutsche Bank upgraded General Motors Company (NYSE:GM) on Monday, September 25 to “Buy” rating. The rating was maintained by Citigroup on Wednesday, September 2 with “Buy”. The firm earned “Market Perform” rating on Wednesday, October 25 by BMO Capital Markets. Jefferies maintained General Motors Company (NYSE:GM) rating on Monday, June 12. Jefferies has “Hold” rating and $3600 target. The firm earned “Buy” rating on Monday, October 2 by Citigroup. Morgan Stanley maintained General Motors Company (NYSE:GM) on Thursday, September 21 with “Overweight” rating. The company was maintained on Wednesday, October 11 by UBS. Goldman Sachs downgraded the shares of GM in report on Monday, October 30 to “Sell” rating.

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