Investors Sell Shares of General Motors (GM) on Strength (GM)
Traders sold shares of General Motors (NYSE:GM) (TSE:GMM.U) on strength during trading on Tuesday. $39.62 million flowed into the stock on the tick-up and $110.37 million flowed out of the stock on the tick-down, for a money net flow of $70.75 million out of the stock. Of all equities tracked, General Motors had the 33rd highest net out-flow for the day. General Motors traded up $0.44 for the day and closed at $39.53
A number of research analysts have issued reports on the company. Seaport Global Securities assumed coverage on General Motors in a research note on Wednesday, February 13th. They issued a “buy” rating for the company. Citigroup boosted their target price on General Motors to $67.00 and gave the company a “buy” rating in a research note on Friday, February 8th. Royal Bank of Canada boosted their target price on General Motors from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, February 7th. Goldman Sachs Group set a $38.00 target price on General Motors and gave the company a “hold” rating in a research note on Monday, January 14th. Finally, Barclays restated a “buy” rating and issued a $49.00 price target on shares of General Motors in a report on Monday, January 14th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $46.97.
The firm has a market cap of $55.72 billion, a P/E ratio of 6.06, a PEG ratio of 0.72 and a beta of 1.26. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 1.71.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.52 annualized dividend and a yield of 3.84%. General Motors’s payout ratio is presently 23.24%.
In related news, insider Alan S. Batey sold 70,266 shares of the company’s stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $38.39, for a total transaction of $2,697,511.74. Following the sale, the insider now owns 205,906 shares in the company, valued at $7,904,731.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GM. Oregon Public Employees Retirement Fund increased its position in General Motors by 2,701.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,064,309 shares of the auto manufacturer’s stock worth $1,018,000 after buying an additional 32,848,376 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of General Motors in the third quarter valued at approximately $480,782,000. Capital World Investors grew its position in shares of General Motors by 15.4% in the third quarter. Capital World Investors now owns 83,910,382 shares of the auto manufacturer’s stock valued at $2,825,263,000 after purchasing an additional 11,218,495 shares during the last quarter. Franklin Resources Inc. grew its position in shares of General Motors by 38.9% in the third quarter. Franklin Resources Inc. now owns 27,084,102 shares of the auto manufacturer’s stock valued at $911,922,000 after purchasing an additional 7,578,850 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of General Motors in the fourth quarter valued at approximately $144,112,000. 75.50% of the stock is currently owned by hedge funds and other institutional investors.
About General Motors (NYSE:GM)
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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