General Motors (NYSE:GM) Shares Bought by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 36,727 shares of the auto manufacturer’s stock after acquiring an additional 282 shares during the period. First Trust Direct Indexing L.P.’s holdings in General Motors were worth $1,647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors in the second quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors in the second quarter worth $28,000. Fortitude Family Office LLC increased its stake in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. Montag A & Associates Inc. acquired a new position in General Motors during the first quarter worth $30,000. Finally, EdgeRock Capital LLC acquired a new position in General Motors during the second quarter worth $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the topic of several analyst reports. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research report on Monday, August 5th. Wolfe Research started coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Sanford C. Bernstein raised their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Wells Fargo & Company raised their price target on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group raised their price target on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.92.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 531,228 shares of company stock valued at $28,267,714 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

General Motors Stock Performance

NYSE GM opened at $50.77 on Friday. The firm has a market cap of $55.83 billion, a price-to-earnings ratio of 5.41, a PEG ratio of 0.60 and a beta of 1.42. The company has a 50 day moving average of $48.26 and a 200-day moving average of $46.40. The company has a current ratio of 1.21, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. General Motors has a 1-year low of $26.30 and a 1-year high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $2.28 earnings per share. On average, equities analysts forecast that General Motors will post 10.05 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

General Motors 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.