General Motors (NYSE:GM) Stock Price Down 0.1%

General Motors (NYSE:GM) (TSE:GMM.U)’s share price fell 0.1% during mid-day trading on Tuesday . The stock traded as low as $47.79 and last traded at $47.99. 2,905,661 shares changed hands during trading, a decline of 81% from the average session volume of 15,268,813 shares. The stock had previously closed at $48.04.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GM shares. Royal Bank of Canada decreased their price objective on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of General Motors in a research note on Wednesday, July 24th. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. Wells Fargo & Company reduced their target price on General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Finally, Wolfe Research assumed coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus target price of $55.17.

General Motors Stock Down 0.5 %

The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The firm’s 50-day moving average price is $46.25 and its 200 day moving average price is $45.36. The firm has a market cap of $54.55 billion, a P/E ratio of 5.82, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.67 by $0.39. The firm had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.91 EPS. As a group, research analysts expect that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s payout ratio is currently 5.87%.

General Motors declared that its board has initiated a stock buyback program on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, CFO Paul A. Jacobson purchased 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction dated Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Hedge funds have recently made changes to their positions in the business. LifeSteps Financial Inc. acquired a new position in shares of General Motors in the 1st quarter valued at $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors in the second quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the second quarter valued at approximately $28,000. Fortitude Family Office LLC lifted its position in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares in the last quarter. Finally, Montag A & Associates Inc. acquired a new position in General Motors in the 1st quarter worth approximately $30,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.