Investors Sell Shares of General Motors (GM) on Strength (GM)
Investors sold shares of General Motors (NYSE:GM) (TSE:GMM.U) on strength during trading hours on Wednesday. $51.43 million flowed into the stock on the tick-up and $84.99 million flowed out of the stock on the tick-down, for a money net flow of $33.56 million out of the stock. Of all companies tracked, General Motors had the 0th highest net out-flow for the day. General Motors traded up $0.03 for the day and closed at $42.52
A number of brokerages have issued reports on GM. Morgan Stanley downgraded shares of General Motors from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $46.48 to $43.00 in a report on Wednesday, October 25th. Royal Bank of Canada lifted their price target on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a report on Wednesday, October 25th. Craig Hallum set a $45.00 price target on shares of General Motors and gave the company a “hold” rating in a report on Wednesday, October 25th. BMO Capital Markets upgraded shares of General Motors to a “market perform” rating and lifted their price target for the company from $41.00 to $48.00 in a report on Wednesday, October 25th. Finally, Deutsche Bank lifted their price target on shares of General Motors from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $43.69.
The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. The company has a market capitalization of $60,395.75, a price-to-earnings ratio of 6.87, a price-to-earnings-growth ratio of 0.74 and a beta of 1.54.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Friday, December 8th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.61%. General Motors’s dividend payout ratio is presently 77.95%.
In related news, EVP Stefan Jacoby sold 37,961 shares of General Motors stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the completion of the transaction, the executive vice president now directly owns 98,340 shares of the company’s stock, valued at approximately $4,215,835.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Barry L. Engle II sold 50,443 shares of General Motors stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the transaction, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,459,480.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 775,252 shares of company stock valued at $33,616,642. 0.04% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Berkshire Hathaway Inc. boosted its position in General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after buying an additional 10,000,000 shares during the period. Swiss National Bank raised its holdings in shares of General Motors by 1.2% in the 2nd quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock valued at $172,060,000 after purchasing an additional 56,500 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of General Motors by 181.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,809,371 shares of the auto manufacturer’s stock valued at $73,062,000 after purchasing an additional 1,166,696 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in shares of General Motors by 0.4% in the 2nd quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock valued at $28,839,000 after purchasing an additional 3,298 shares in the last quarter. Finally, Intrust Bank NA raised its holdings in shares of General Motors by 0.3% in the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after purchasing an additional 25 shares in the last quarter. 72.97% of the stock is owned by institutional investors.
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About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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