Stock Traders Buy High Volume of Call Options on General Motors (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) was the target of some unusual options trading activity on Tuesday. Investors bought 75,489 call options on the company. This is an increase of 44% compared to the typical daily volume of 52,431 call options.

Analyst Upgrades and Downgrades

GM has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $54.00 target price on shares of General Motors in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price 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. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research report on Monday, August 5th. Finally, The Goldman Sachs Group boosted their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has an average rating of “Hold” and a consensus target price of $55.35.

Insider Activity

In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the business’s 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 transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the 2nd quarter valued at approximately $25,000. Wellington Shields Capital Management LLC bought a new position in General Motors during the second quarter worth $28,000. Fortitude Family Office LLC lifted its stake in General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the last quarter. Montag A & Associates Inc. bought a new position in General Motors during the first quarter worth $30,000. Finally, EdgeRock Capital LLC bought a new position in General Motors during the second quarter worth $33,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Trading Up 7.4 %

GM traded up $3.63 on Tuesday, reaching $52.56. 11,403,521 shares of the company’s stock were exchanged, compared to its average volume of 15,027,666. The company’s 50 day moving average is $47.13 and its 200-day moving average is $45.97. The company has a market cap of $59.97 billion, a price-to-earnings ratio of 6.43, a PEG ratio of 0.56 and a beta of 1.42. General Motors has a twelve month low of $26.30 and a twelve month high of $53.13. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion during 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%. General Motors’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 EPS. Equities analysts predict that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. General Motors’s dividend payout ratio is presently 5.87%.

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.