General Motors (NYSE:GM) Shares Gap Down to $46.48

General Motors (NYSE:GM) (TSE:GMM.U)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $46.48, but opened at $44.92. General Motors shares last traded at $45.04, with a volume of 2,313,505 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GM shares. Wells Fargo & Company lowered their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research report on Tuesday, September 10th. Bank of America reaffirmed a “buy” rating and set a $75.00 price objective on shares of General Motors in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, Wolfe Research began coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.92.

General Motors Trading Down 3.9 %

The company has a 50-day simple moving average of $46.02 and a 200 day simple moving average of $45.55. The firm has a market cap of $50.94 billion, a PE ratio of 5.52, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23.

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, beating analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.91 EPS. As a group, sell-side analysts forecast that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s payout ratio is 5.87%.

General Motors announced that its board has initiated a share repurchase plan on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

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

Hedge Funds Weigh In On General Motors

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement Association of Colorado grew its holdings in General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after buying an additional 2,035,925 shares in the last quarter. GSA Capital Partners LLP increased its position in General Motors by 317.6% during the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after purchasing an additional 51,571 shares during the last quarter. ACR Alpine Capital Research LLC raised its stake in General Motors by 8.4% during the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after purchasing an additional 492,693 shares during the period. BDF Gestion acquired a new position in General Motors in the 2nd quarter valued at about $2,886,000. Finally, Morningstar Investment Services LLC boosted its holdings in General Motors by 99.0% in the 4th quarter. Morningstar Investment Services LLC now owns 287,315 shares of the auto manufacturer’s stock valued at $10,401,000 after purchasing an additional 142,920 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.