First Trust Advisors LP Acquires 113,905 Shares of General Motors (NYSE:GM)

First Trust Advisors LP increased its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,005,883 shares of the auto manufacturer's stock after acquiring an additional 113,905 shares during the period. First Trust Advisors LP owned about 0.10% of General Motors worth $53,583,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of General Motors in the fourth quarter worth approximately $592,321,000. Amundi boosted its stake in shares of General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock valued at $250,627,000 after buying an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC grew its holdings in shares of General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after acquiring an additional 2,104,528 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of General Motors in the fourth quarter worth $108,366,000. Finally, National Bank of Canada FI raised its holdings in shares of General Motors by 54.4% during the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock worth $178,593,000 after acquiring an additional 1,180,936 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of GM traded down $0.06 on Monday, reaching $47.05. 2,478,256 shares of the stock traded hands, compared to its average volume of 13,299,151. The stock's 50-day moving average price is $46.87 and its 200-day moving average price is $50.34. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market cap of $46.81 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 0.67 and a beta of 1.27. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its board has approved a share buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on GM shares. Cowen assumed coverage on General Motors in a research note on Thursday, March 6th. They set a "buy" rating for the company. Citigroup began coverage on shares of General Motors in a research report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price objective on the stock. StockNews.com downgraded shares of General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Sanford C. Bernstein cut shares of General Motors from a "market perform" rating to an "underperform" rating and decreased their price objective for the stock from $50.00 to $35.00 in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their target price on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $54.83.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business's stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.72% of the company's stock.

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.