Exchange Traded Concepts LLC Raises Position in General Motors Company $GM

Key Points

• Exchange Traded Concepts LLC increased its stake in General Motors by 1.5% during Q2, owning 292,345 shares valued at approximately $14.4 million.
• Multiple analysts upgraded their price targets for General Motors, with UBS projecting a price of $56 and JPMorgan raising their target to $60, indicating a consensus rating of "Moderate Buy."
• CEO Mary T. Barra significantly reduced her shares by selling 907,024 at an average price of $58.24, representing a 62.16% decrease in her position.

Exchange Traded Concepts LLC boosted its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 292,345 shares of the auto manufacturer's stock after buying an additional 4,289 shares during the quarter. Exchange Traded Concepts LLC's holdings in General Motors were worth $14,386,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Costello Asset Management INC acquired a new position in General Motors during the 1st quarter worth about $32,000. WPG Advisers LLC acquired a new position in General Motors during the 1st quarter worth about $34,000. North Capital Inc. acquired a new position in General Motors during the 1st quarter worth about $40,000. Banque Transatlantique SA acquired a new position in General Motors during the 1st quarter worth about $40,000. Finally, SouthState Corp lifted its holdings in General Motors by 914.4% during the 1st quarter. SouthState Corp now owns 984 shares of the auto manufacturer's stock worth $46,000 after buying an additional 887 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. CLSA raised General Motors to a "moderate buy" rating in a research note on Monday, July 7th. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a research note on Friday, July 11th. UBS Group boosted their price objective on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Bank of America dropped their price objective on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, General Motors currently has an average rating of "Moderate Buy" and an average price target of $59.00.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 29,486 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $59.92, for a total value of $1,766,801.12. Following the completion of the sale, the chief executive officer directly owned 633,527 shares of the company's stock, valued at $37,960,937.84. This represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Christopher Hatto sold 14,667 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total value of $865,353.00. Following the completion of the sale, the chief accounting officer directly owned 12,007 shares of the company's stock, valued at approximately $708,413. This trade represents a 54.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,104,256 shares of company stock valued at $64,129,551 over the last ninety days. 0.54% of the stock is currently owned by insiders.

General Motors Stock Down 0.5%

GM stock traded down $0.32 during trading on Friday, reaching $58.94. 13,158,591 shares of the stock were exchanged, compared to its average volume of 6,247,494. The firm's 50 day moving average is $55.71 and its 200 day moving average is $50.70. General Motors Company has a twelve month low of $41.60 and a twelve month high of $61.24. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The firm has a market cap of $56.12 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 1.25 and a beta of 1.32.

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

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, September 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. General Motors's dividend payout ratio is 9.52%.

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.