Exchange Traded Concepts LLC Sells 74,445 Shares of General Motors (NYSE:GM)

Exchange Traded Concepts LLC lowered its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 20.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 288,056 shares of the auto manufacturer's stock after selling 74,445 shares during the quarter. Exchange Traded Concepts LLC's holdings in General Motors were worth $13,547,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GM. Measured Risk Portfolios Inc. bought a new stake in shares of General Motors during the fourth quarter worth about $27,000. Compass Planning Associates Inc acquired a new position in General Motors during the 4th quarter valued at about $27,000. Whittier Trust Co. increased its holdings in General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after purchasing an additional 425 shares in the last quarter. Duncker Streett & Co. Inc. raised its stake in shares of General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after purchasing an additional 498 shares during the last quarter. Finally, Transce3nd LLC bought a new position in shares of General Motors in the fourth quarter valued at approximately $34,000. Institutional investors own 92.67% of the company's stock.

Analysts Set New Price Targets

GM has been the subject of several recent research reports. Royal Bank of Canada upped their price target on General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a research note on Monday, April 14th. Mizuho raised their price target on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. cut their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Barclays lifted their target price on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $53.35.

General Motors Stock Performance

General Motors stock traded down $0.64 during midday trading on Friday, reaching $48.62. The stock had a trading volume of 8,701,633 shares, compared to its average volume of 12,978,177. The firm has a market capitalization of $46.74 billion, a PE ratio of 7.91, a P/E/G ratio of 0.67 and a beta of 1.34. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm's 50-day moving average price is $47.21 and its 200 day moving average price is $49.06.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.62 earnings per share. As a group, research analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a $0.15 dividend. This is a positive change from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, June 6th. General Motors's dividend payout ratio (DPR) is presently 8.65%.

General Motors announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

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.