General Motors (NYSE:GM) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 5.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 198,188 shares of the auto manufacturer’s stock after buying an additional 10,596 shares during the period. Exchange Traded Concepts LLC’s holdings in General Motors were worth $8,887,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors in the 2nd quarter valued at about $28,000. Fortitude Family Office LLC boosted its holdings in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the period. Montag A & Associates Inc. acquired a new position in General Motors during the 1st quarter valued at about $30,000. Finally, EdgeRock Capital LLC acquired a new position in General Motors during the 2nd quarter valued at about $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of GM opened at $47.87 on Monday. The stock has a market capitalization of $54.62 billion, a P/E ratio of 5.85, a P/E/G ratio of 0.56 and a beta of 1.42. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The company has a 50 day moving average of $46.27 and a 200-day moving average of $45.81. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. During the same period last year, the business earned $1.91 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s dividend payout ratio (DPR) is 5.87%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GM. 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 note on Friday. The Goldman Sachs Group boosted their target price on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. UBS Group boosted their target price on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Finally, StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and an average price target of $55.16.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Paul A. Jacobson purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

General Motors Company 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.