DoubleLine ETF Adviser LP Acquires New Position in General Motors Company $GM

Key Points

• DoubleLine ETF Adviser LP has purchased a new position in General Motors, acquiring 25,857 shares valued at approximately $1.22 million during the first quarter.
• Significant insider trading occurred recently, with the CAO selling 36,804 shares, indicating a 75.40% decrease in their ownership.
• General Motors has announced a quarterly dividend of $0.15 per share, which equates to an annualized dividend yield of 1.0% for shareholders of record on September 5th.

DoubleLine ETF Adviser LP bought a new position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 25,857 shares of the auto manufacturer's stock, valued at approximately $1,216,000.

Other institutional investors have also modified their holdings of the company. Electron Capital Partners LLC acquired a new stake in shares of General Motors in the first quarter valued at $20,240,000. Chou Associates Management Inc. purchased a new stake in General Motors during the 1st quarter worth about $2,446,000. Banque Transatlantique SA acquired a new stake in General Motors in the 1st quarter valued at about $40,000. AQR Capital Management LLC boosted its stake in shares of General Motors by 146.8% in the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock valued at $629,196,000 after buying an additional 8,012,743 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of General Motors by 22.9% during the first quarter. Advisors Asset Management Inc. now owns 11,984 shares of the auto manufacturer's stock worth $564,000 after buying an additional 2,236 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Activity

In other news, CAO Christopher Hatto sold 36,804 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the sale, the chief accounting officer owned 12,007 shares in the company, valued at $661,585.70. This represents a 75.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the transaction, the executive vice president owned 8,513 shares in the company, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,070,311 shares of company stock valued at $62,095,433. Company insiders own 0.54% of the company's stock.

General Motors Stock Down 1.4%

Shares of NYSE:GM opened at $57.74 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The stock has a market cap of $54.97 billion, a P/E ratio of 9.16, a P/E/G ratio of 1.24 and a beta of 1.32. General Motors Company has a 1-year low of $41.60 and a 1-year high of $61.24. The firm has a fifty day moving average price of $54.11 and a 200 day moving average price of $49.79.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same quarter in the prior year, the firm earned $3.06 earnings per share. The business's quarterly revenue was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Sell-side analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio (DPR) is 9.52%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GM shares. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research note on Friday, July 11th. Citigroup lifted their price objective on shares of General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Wedbush increased their target price on General Motors from $55.00 to $65.00 and gave the company an "outperform" rating in a report on Tuesday, August 19th. Piper Sandler reaffirmed a "neutral" rating and set a $48.00 price objective (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $58.05.

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.

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