General Motors Co. (GM) Shares Gap Up to $30.97
General Motors Co. (NYSE:GM) gapped up before the market opened on Monday . The stock had previously closed at $30.36, but opened at $30.97. General Motors shares last traded at $31.85, with a volume of 11,479,744 shares.
Several equities research analysts recently weighed in on the company. Morgan Stanley raised General Motors from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $29.00 to $37.00 in a report on Monday. Vetr raised General Motors from a “buy” rating to a “strong-buy” rating and set a $35.06 price target for the company in a report on Monday, September 12th. Jefferies Group reaffirmed a “hold” rating on shares of General Motors in a report on Friday, September 2nd. Barclays PLC reissued an “equal weight” rating and issued a $36.00 target price on shares of General Motors in a report on Thursday, August 11th. Finally, Seaport Global Securities began coverage on General Motors in a report on Tuesday, August 9th. They issued a “buy” rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. General Motors presently has a consensus rating of “Hold” and a consensus target price of $35.74.
The firm’s 50-day moving average is $31.39 and its 200-day moving average is $30.80. The stock has a market cap of $49.54 billion, a price-to-earnings ratio of 4.06 and a beta of 1.70.
General Motors (NYSE:GM) last announced its quarterly earnings data on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.35. The business earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. On average, equities research analysts anticipate that General Motors Co. will post $5.84 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.79%. General Motors’s dividend payout ratio (DPR) is 19.46%.
In related news, Director Jane L. Mendillo bought 1,600 shares of General Motors stock in a transaction dated Tuesday, August 2nd. The stock was acquired at an average cost of $31.01 per share, with a total value of $49,616.00. Following the completion of the acquisition, the director now directly owns 1,600 shares in the company, valued at approximately $49,616. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total value of $199,625.00. Following the sale, the vice president now directly owns 27,477 shares of the company’s stock, valued at $877,615.38. The disclosure for this sale can be found here. 0.04% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. Kovitz Investment Group Partners LLC bought a new stake in shares of General Motors during the first quarter valued at approximately $56,200,000. National Pension Service increased its stake in shares of General Motors by 4.1% in the first quarter. National Pension Service now owns 823,356 shares of the auto manufacturer’s stock valued at $25,878,000 after buying an additional 32,253 shares in the last quarter. Natixis increased its stake in shares of General Motors by 576.0% in the first quarter. Natixis now owns 2,515,846 shares of the auto manufacturer’s stock valued at $79,073,000 after buying an additional 2,143,679 shares in the last quarter. Anchor Bolt Capital LP increased its stake in shares of General Motors by 6.2% in the first quarter. Anchor Bolt Capital LP now owns 4,699,537 shares of the auto manufacturer’s stock valued at $147,706,000 after buying an additional 273,835 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of General Motors by 6.5% in the second quarter. Acadian Asset Management LLC now owns 28,095 shares of the auto manufacturer’s stock valued at $795,000 after buying an additional 1,722 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.
About General Motors
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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