General Motors (NYSE:GM – Get Free Report) TSE: GMM.U traded down 0.9% during mid-day trading on Thursday . The company traded as low as $44.06 and last traded at $44.43. 2,634,022 shares changed hands during trading, a decline of 83% from the average session volume of 15,249,625 shares. The stock had previously closed at $44.82.
Wall Street Analyst Weigh In
GM has been the topic of a number of recent research reports. Sanford C. Bernstein cut shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price objective on the stock. in a report on Monday, September 23rd. The Goldman Sachs Group raised their price objective on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors has an average rating of “Hold” and a consensus target price of $55.47.
General Motors Stock Performance
The business has a 50-day moving average of $45.86 and a 200 day moving average of $45.61. The company has a market cap of $51.23 billion, a PE ratio of 5.47, a PEG ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.
General Motors (NYSE:GM – Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.91 earnings per share. Equities research analysts anticipate that General Motors will post 9.95 EPS for the current fiscal year.
General Motors Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is 5.87%.
General Motors declared that its board has authorized a share repurchase program on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Insider Activity at General Motors
In related news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On General Motors
Several large investors have recently modified their holdings of the stock. Czech National Bank grew its holdings in General Motors by 5.3% during the 3rd quarter. Czech National Bank now owns 228,954 shares of the auto manufacturer’s stock valued at $10,266,000 after purchasing an additional 11,533 shares during the last quarter. Abacus Planning Group Inc. boosted its position in shares of General Motors by 3.4% during the third quarter. Abacus Planning Group Inc. now owns 10,202 shares of the auto manufacturer’s stock valued at $457,000 after buying an additional 332 shares during the period. Centaurus Financial Inc. grew its stake in shares of General Motors by 2.1% during the second quarter. Centaurus Financial Inc. now owns 11,628 shares of the auto manufacturer’s stock valued at $540,000 after buying an additional 238 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of General Motors in the second quarter worth approximately $1,580,000. Finally, Sanctuary Advisors LLC purchased a new position in General Motors during the 2nd quarter valued at $13,924,000. Institutional investors own 92.67% 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.