Traders Buy General Motors Company (GM) on Weakness
Investors purchased shares of General Motors Company (NYSE:GM) (TSE:GMM.U) on weakness during trading hours on Wednesday. $120.05 million flowed into the stock on the tick-up and $67.53 million flowed out of the stock on the tick-down, for a money net flow of $52.52 million into the stock. Of all companies tracked, General Motors had the 6th highest net in-flow for the day. General Motors traded down ($0.14) for the day and closed at $42.86
Several analysts recently commented on the stock. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Vetr upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $37.42 price target for the company in a research report on Monday, July 24th. Royal Bank Of Canada upped their price target on shares of General Motors from $37.00 to $38.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 26th. Jefferies Group LLC upped their price target on shares of General Motors from $36.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, October 30th. Finally, Standpoint Research downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Thursday, September 14th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.61.
The firm has a market capitalization of $60,878.69, a P/E ratio of 6.92, a P/E/G ratio of 0.74 and a beta of 1.56. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.25. The firm had revenue of $30.48 billion for the quarter, compared to analysts’ expectations of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The firm’s revenue was down 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.72 EPS. analysts forecast that General Motors Company will post 6.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be paid a $0.38 dividend. The ex-dividend date is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.49%. General Motors’s payout ratio is 77.95%.
In other General Motors news, insider Alan S. Batey sold 234,274 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total transaction of $8,911,782.96. Following the sale, the insider now directly owns 67,548 shares of the company’s stock, valued at approximately $2,569,525.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Thomas S. Timko sold 44,791 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the sale, the chief accounting officer now directly owns 66,838 shares in the company, valued at $2,971,617.48. The disclosure for this sale can be found here. Insiders have sold a total of 971,122 shares of company stock worth $40,627,952 over the last ninety days. 0.04% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Intrust Bank NA boosted its stake in shares of General Motors by 0.3% during the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after purchasing an additional 25 shares during the last quarter. IFC Holdings Incorporated FL boosted its stake in shares of General Motors by 0.3% during the 2nd quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock worth $1,120,000 after purchasing an additional 88 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of General Motors by 1.8% during the 2nd quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock worth $230,000 after acquiring an additional 115 shares during the period. Alpha Windward LLC lifted its holdings in shares of General Motors by 2.3% during the 2nd quarter. Alpha Windward LLC now owns 5,542 shares of the auto manufacturer’s stock worth $194,000 after acquiring an additional 125 shares during the period. Finally, Heritage Investors Management Corp lifted its holdings in shares of General Motors by 0.3% during the 2nd quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock worth $1,735,000 after acquiring an additional 130 shares during the period. 74.51% of the stock is currently owned by institutional investors.
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General Motors Company Profile
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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