First Trust Direct Indexing L.P. Increases Stock Position in General Motors (NYSE:GM)

First Trust Direct Indexing L.P. grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 26.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,654 shares of the auto manufacturer’s stock after buying an additional 4,105 shares during the period. First Trust Direct Indexing L.P.’s holdings in General Motors were worth $706,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Summit Financial LLC boosted its position in General Motors by 4.3% during the 4th quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock worth $239,000 after purchasing an additional 273 shares during the period. Arnhold LLC purchased a new stake in General Motors during the 4th quarter worth $11,868,000. Savant Capital LLC boosted its position in General Motors by 34.7% during the 4th quarter. Savant Capital LLC now owns 19,770 shares of the auto manufacturer’s stock worth $710,000 after purchasing an additional 5,090 shares during the period. Auxano Advisors LLC purchased a new stake in General Motors during the 4th quarter worth $730,000. Finally, Certuity LLC purchased a new stake in General Motors during the 4th quarter worth $217,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In other news, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,007 shares in the company, valued at $540,315. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other General Motors news, EVP Gerald Johnson sold 15,190 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.03, for a total transaction of $608,055.70. Following the transaction, the executive vice president now owns 98,628 shares of the company’s stock, valued at approximately $3,948,078.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock worth $3,614,078 in the last ninety days. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

GM has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. StockNews.com raised shares of General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Royal Bank of Canada upped their price objective on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Wedbush upped their price objective on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.65.

General Motors Stock Performance

Shares of NYSE GM opened at $44.86 on Friday. The stock has a market capitalization of $51.18 billion, a P/E ratio of 5.48, a P/E/G ratio of 0.53 and a beta of 1.49. The firm’s 50-day moving average price is $42.84 and its two-hundred day moving average price is $36.79. General Motors has a 52-week low of $26.30 and a 52-week high of $46.17. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 EPS. As a group, sell-side analysts forecast that General Motors will post 9.44 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

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.