General Motors (NYSE:GM) Shares Up 1.1%

General Motors (NYSE:GM) (TSE:GMM.U) shot up 1.1% during mid-day trading on Thursday . The company traded as high as $45.15 and last traded at $44.94. 4,031,410 shares were traded during mid-day trading, a decline of 77% from the average session volume of 17,156,105 shares. The stock had previously closed at $44.47.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Tigress Financial upped their price target on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Sanford C. Bernstein assumed coverage on General Motors in a report on Thursday, April 25th. They set an “outperform” rating and a $55.00 target price on the stock. Barclays increased their price target on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a research note on Thursday, January 4th. Finally, StockNews.com raised shares of General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.65.

General Motors Trading Up 1.0 %

The firm has a market cap of $51.24 billion, a price-to-earnings ratio of 5.49, a P/E/G ratio of 0.52 and a beta of 1.49. The firm’s 50-day moving average is $42.63 and its 200-day moving average is $36.63. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22.

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

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date 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 is presently 5.87%.

Insider Buying and Selling

In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Institutional investors and hedge funds have recently bought and sold shares of the company. SouthState Corp increased its holdings in General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in shares of General Motors during the 1st quarter valued at $25,000. Highlander Capital Management LLC bought a new position in General Motors in the 4th quarter worth about $27,000. Cape Investment Advisory Inc. grew its holdings in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 359 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in General Motors during the 1st quarter worth approximately $32,000. 92.67% of the stock is owned by institutional investors.

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.