General Motors (NYSE:GM) Trading Down 0.9%

General Motors (NYSE:GM) (TSE:GMM.U) was down 0.9% during trading on Thursday . The company traded as low as $44.06 and last traded at $44.43. Approximately 2,634,022 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 15,249,625 shares. The stock had previously closed at $44.82.

Analyst Ratings Changes

GM has been the subject of a number of research analyst reports. 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 report on Friday, August 9th. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research note on Monday, August 5th. JPMorgan Chase & Co. upped their price target on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, Sanford C. Bernstein lowered General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.47.

General Motors Stock Up 0.2 %

The business has a 50 day moving average price of $45.86 and a 200 day moving average price of $45.61. 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 stock has a market cap of $51.23 billion, a PE ratio of 5.47, a P/E/G ratio of 0.56 and a beta of 1.42.

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

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. General Motors’s dividend payout ratio is presently 5.87%.

General Motors announced that its Board of Directors has approved a stock repurchase plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Czech National Bank increased its position in shares of General Motors by 5.3% during the third quarter. Czech National Bank now owns 228,954 shares of the auto manufacturer’s stock worth $10,266,000 after acquiring an additional 11,533 shares during the period. Abacus Planning Group Inc. increased its stake in shares of General Motors by 3.4% during the third quarter. Abacus Planning Group Inc. now owns 10,202 shares of the auto manufacturer’s stock worth $457,000 after buying an additional 332 shares during the period. Centaurus Financial Inc. raised its holdings in General Motors by 2.1% in the second quarter. Centaurus Financial Inc. now owns 11,628 shares of the auto manufacturer’s stock valued at $540,000 after acquiring an additional 238 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in General Motors in the second quarter worth approximately $1,580,000. Finally, Sanctuary Advisors LLC acquired a new position in General Motors during the 2nd quarter worth approximately $13,924,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Company Profile

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.