General Motors Company (GM) Sees Significant Drop in Short Interest

General Motors Company (NYSE:GM) (TSE:GMM.U) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 36,780,348 shares, a decrease of 13.1% from the October 13th total of 42,307,984 shares. Based on an average trading volume of 14,584,011 shares, the days-to-cover ratio is currently 2.5 days. Currently, 2.9% of the company’s shares are sold short.

Several equities analysts have commented on the company. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $46.48 to $43.00 in a research report on Wednesday, October 25th. Royal Bank Of Canada upped their price objective on General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Craig Hallum set a $45.00 price target on General Motors and gave the stock a “hold” rating in a research report on Wednesday, October 25th. BMO Capital Markets raised General Motors to a “market perform” rating and increased their price target for the stock from $41.00 to $48.00 in a research report on Wednesday, October 25th. Finally, Deutsche Bank AG increased their price target on General Motors from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $43.61.

In other General Motors news, President Daniel Ammann sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the transaction, the president now owns 185,953 shares of the company’s stock, valued at approximately $7,066,214. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Thomas S. Timko sold 44,791 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $44.46, for a total value of $1,991,407.86. Following the completion of the transaction, the chief accounting officer now directly owns 66,838 shares in the company, valued at approximately $2,971,617.48. The disclosure for this sale can be found here. Insiders sold a total of 971,122 shares of company stock worth $40,627,952 in the last ninety days. 0.04% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Intrust Bank NA raised its stake in shares of General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after purchasing an additional 25 shares during the last quarter. IFC Holdings Incorporated FL raised its stake in shares of General Motors by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock worth $1,120,000 after purchasing an additional 88 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in shares of General Motors by 1.8% in the second quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock worth $230,000 after purchasing an additional 115 shares during the last quarter. Alpha Windward LLC raised its stake in shares of General Motors by 2.3% in the second quarter. Alpha Windward LLC now owns 5,542 shares of the auto manufacturer’s stock worth $194,000 after purchasing an additional 125 shares during the last quarter. Finally, Heritage Investors Management Corp raised its stake in shares of General Motors by 0.3% in the second quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock worth $1,735,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 74.51% of the company’s stock.

Shares of General Motors (NYSE GM) opened at $43.88 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54. General Motors has a 12 month low of $31.92 and a 12 month high of $46.76. The company has a market capitalization of $62,327.50, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.76 and a beta of 1.56.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The company had revenue of $30.48 billion during the quarter, compared to analysts’ expectations of $29.93 billion. During the same period last year, the business posted $1.72 earnings per share. The firm’s revenue was down 16.6% compared to the same quarter last year. equities research analysts predict that General Motors will post 6.24 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is presently 77.95%.

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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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