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

Several other institutional investors have also modified their holdings of GM. Costello Asset Management INC purchased a new stake in shares of General Motors during the 1st quarter worth approximately $32,000. WPG Advisers LLC purchased a new stake in shares of General Motors during the 1st quarter worth approximately $34,000. North Capital Inc. purchased a new stake in shares of General Motors during the 1st quarter worth approximately $40,000. Banque Transatlantique SA purchased a new stake in shares of General Motors during the 1st quarter worth approximately $40,000. Finally, SouthState Corp lifted its position in shares of 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 last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

General Motors stock traded down $0.04 during trading hours on Monday, reaching $58.94. 7,633,787 shares of the stock were exchanged, compared to its average volume of 6,589,462. The stock has a market cap of $56.12 billion, a P/E ratio of 9.36, a P/E/G ratio of 1.24 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. General Motors Company has a 52-week low of $41.60 and a 52-week high of $61.24. The firm's 50 day moving average is $55.82 and its 200 day moving average is $50.83.

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

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were given a dividend of $0.15 per share. The ex-dividend date was Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. General Motors's dividend payout ratio is presently 9.52%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GM shares. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Bank of America reduced their price objective on shares of General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. UBS Group boosted their price objective on shares of General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Finally, Barclays upgraded shares of General Motors from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $55.00 to $73.00 in a research report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $59.74.

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 907,024 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $58.24, for a total value of $52,825,077.76. Following the completion of the transaction, the chief executive officer owned 552,238 shares in the company, valued at $32,162,341.12. This trade represents a 62.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Christopher Hatto sold 36,804 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the completion of the transaction, the chief accounting officer owned 12,007 shares of the company's stock, valued at $661,585.70. This represents a 75.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,104,256 shares of company stock worth $64,129,551. 0.54% of the stock is owned by insiders.

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.