Traders Buy General Motors (GM) on Weakness
Traders purchased shares of General Motors (NYSE:GM) (TSE:GMM.U) on weakness during trading on Thursday. $123.55 million flowed into the stock on the tick-up and $71.88 million flowed out of the stock on the tick-down, for a money net flow of $51.67 million into the stock. Of all companies tracked, General Motors had the 33rd highest net in-flow for the day. General Motors traded down ($0.44) for the day and closed at $35.70
A number of equities analysts recently commented on GM shares. JPMorgan Chase & Co. lifted their price objective on General Motors from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 27th. Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Friday, November 16th. BMO Capital Markets reaffirmed a “hold” rating and issued a $38.00 price objective on shares of General Motors in a research note on Tuesday, November 13th. Morgan Stanley lifted their price objective on General Motors from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 6th. Finally, Nomura dropped coverage on General Motors in a research note on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $45.74.
The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $51.54 billion, a P/E ratio of 5.40, a P/E/G ratio of 0.69 and a beta of 1.25.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, December 7th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.26%. The ex-dividend date is Thursday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 22.96%.
Institutional investors and hedge funds have recently modified their holdings of the business. TRUE Private Wealth Advisors acquired a new position in General Motors in the third quarter valued at approximately $106,000. Qube Research & Technologies Ltd acquired a new position in General Motors in the second quarter valued at approximately $115,000. MUFG Americas Holdings Corp acquired a new position in General Motors in the second quarter valued at approximately $123,000. Patriot Financial Group Insurance Agency LLC lifted its stake in General Motors by 365.4% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,672 shares of the auto manufacturer’s stock valued at $124,000 after buying an additional 2,883 shares during the period. Finally, Camarda Financial Advisors LLC lifted its stake in General Motors by 543.8% in the third quarter. Camarda Financial Advisors LLC now owns 4,088 shares of the auto manufacturer’s stock valued at $138,000 after buying an additional 3,453 shares during the period. 74.31% of the stock is currently owned by hedge funds and other institutional investors.
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About General Motors (NYSE:GM)
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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