General Motors (NYSE:GM) Trading Down 1.4%

Shares of General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) were down 1.4% during mid-day trading on Wednesday . The stock traded as low as $43.92 and last traded at $44.27. Approximately 3,098,483 shares traded hands during trading, a decline of 81% from the average daily volume of 16,182,372 shares. The stock had previously closed at $44.92.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Royal Bank of Canada boosted their target price on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Mizuho boosted their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Barclays raised their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Wedbush upped their price target on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Piper Sandler raised their price objective on shares of General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.65.

View Our Latest Analysis on GM

General Motors Trading Up 0.9 %

The business has a 50 day moving average price of $44.23 and a 200-day moving average price of $38.37. The firm has a market cap of $50.34 billion, a price-to-earnings ratio of 5.39, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.21 EPS. As a group, research analysts expect that General Motors will post 9.4 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.09%. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling at General Motors

In other news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. Insiders sold a total of 72,422 shares of company stock worth $3,085,372 over the last 90 days. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several hedge funds have recently modified their holdings of GM. Handelsbanken Fonder AB increased its holdings in shares of General Motors by 18.5% in the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after buying an additional 74,194 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of General Motors by 361.1% in the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after buying an additional 93,754 shares during the period. Foundry Partners LLC boosted its holdings in shares of General Motors by 15.0% in the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after buying an additional 51,336 shares during the period. Public Sector Pension Investment Board increased its position in shares of General Motors by 10.5% in the third quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after acquiring an additional 14,002 shares in the last quarter. Finally, AM Squared Ltd raised its holdings in shares of General Motors by 195.0% during the fourth quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after acquiring an additional 27,300 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

About General Motors

(Get Free Report)

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.

Further Reading

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