General Motors (NYSE:GM) Trading 1.3% Higher

General Motors (NYSE:GM) (TSE:GMM.U)’s stock price was up 1.3% during mid-day trading on Monday . The stock traded as high as $47.62 and last traded at $46.92. Approximately 2,186,429 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 15,336,631 shares. The stock had previously closed at $46.30.

Analyst Ratings Changes

Several analysts have recently issued reports on GM shares. Wells Fargo & Company reduced their price objective on General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a research report on Tuesday, September 10th. Bank of America restated a “buy” rating and set a $75.00 price objective on shares of General Motors in a report on Wednesday, June 12th. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 24th. Royal Bank of Canada dropped their price objective on General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $55.27.

General Motors Stock Performance

The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The company has a market cap of $55.53 billion, a P/E ratio of 5.95, a P/E/G ratio of 0.52 and a beta of 1.43. The firm has a 50 day moving average price of $46.22 and a 200-day moving average price of $45.12.

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

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. General Motors’s dividend payout ratio is presently 5.87%.

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

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price 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 in the company, valued at $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. 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 acquired a new position in shares of General Motors in the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors in the 2nd quarter valued at $28,000. Fortitude Family Office LLC lifted its stake 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 purchasing an additional 225 shares during the period. Finally, Cape Investment Advisory Inc. lifted its stake in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 359 shares during the period. 92.67% of the stock is currently owned by institutional investors.

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.