Traders bought shares of General Motors Company (NYSE:GM) (TSE:GMM.U) on weakness during trading hours on Friday. $54.84 million flowed into the stock on the tick-up and $33.09 million flowed out of the stock on the tick-down, for a money net flow of $21.75 million into the stock. Of all equities tracked, General Motors had the 31st highest net in-flow for the day. General Motors traded down ($0.17) for the day and closed at $35.77
Several brokerages have recently issued reports on GM. BidaskClub raised General Motors from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. Vetr lowered General Motors from a “buy” rating to a “hold” rating and set a $37.42 price target on the stock. in a report on Monday, July 17th. Zacks Investment Research lowered General Motors from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. Royal Bank Of Canada restated a “hold” rating and set a $37.00 price target on shares of General Motors in a report on Friday, July 14th. Finally, ValuEngine upgraded General Motors from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $39.38.
The company has a market cap of $51.44 billion, a P/E ratio of 6.14 and a beta of 1.45. The firm’s 50 day moving average price is $35.21 and its 200 day moving average price is $35.22.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm had revenue of $36.98 billion during the quarter, compared to analysts’ expectations of $37.67 billion. During the same period in the previous year, the firm posted $1.86 EPS. General Motors’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts expect that General Motors Company will post $6.14 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.31%. General Motors’s payout ratio is 26.48%.
In related news, President Daniel Ammann sold 40,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $36.00, for a total transaction of $1,440,000.00. Following the completion of the transaction, the president now directly owns 235,953 shares of the company’s stock, valued at approximately $8,494,308. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karl-Thomas Neumann sold 46,472 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $32.84, for a total value of $1,526,140.48. The disclosure for this sale can be found here. Insiders have sold a total of 369,001 shares of company stock valued at $12,827,204 over the last three months. 0.04% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Clearbridge Investments LLC boosted its position in General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after buying an additional 3,955,426 shares in the last quarter. Prudential Financial Inc. boosted its position in General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after buying an additional 3,420,200 shares in the last quarter. Vanguard Group Inc. boosted its position in General Motors by 3.2% in the first quarter. Vanguard Group Inc. now owns 89,853,324 shares of the auto manufacturer’s stock valued at $3,177,214,000 after buying an additional 2,744,821 shares in the last quarter. Alliancebernstein L.P. boosted its position in General Motors by 87.0% in the first quarter. Alliancebernstein L.P. now owns 5,174,420 shares of the auto manufacturer’s stock valued at $182,967,000 after buying an additional 2,407,818 shares in the last quarter. Finally, State Street Corp boosted its position in General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after buying an additional 2,252,866 shares in the last quarter. 76.02% of the stock is owned by institutional investors and hedge funds.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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