Traders Sell General Motors Co. (GM) on Strength (GM)
Traders sold shares of General Motors Co. (NYSE:GM) on strength during trading on Friday. $64.01 million flowed into the stock on the tick-up and $87.58 million flowed out of the stock on the tick-down, for a money net flow of $23.57 million out of the stock. Of all stocks tracked, General Motors had the 0th highest net out-flow for the day. General Motors traded up $0.92 for the day and closed at $29.66
A number of analysts have recently issued reports on GM shares. Vetr lowered General Motors from a “strong-buy” rating to a “buy” rating and set a $33.03 target price on the stock. in a research report on Monday, June 27th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $41.00 target price (down from $43.50) on shares of General Motors in a research report on Thursday, June 30th. Goldman Sachs Group Inc. set a $36.00 target price on General Motors and gave the stock a “neutral” rating in a research report on Thursday. Bank of America Corp. reaffirmed a “buy” rating on shares of General Motors in a research report on Sunday, May 1st. Finally, Piper Jaffray Cos. started coverage on General Motors in a research report on Thursday, June 9th. They set an “overweight” rating and a $41.00 target price on the stock. Eleven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $36.06.
The company has a 50 day moving average of $29.51 and a 200 day moving average of $30.38. The stock has a market cap of $45.67 billion and a PE ratio of 4.47.
General Motors (NYSE:GM) last announced its quarterly earnings data on Thursday, April 21st. The auto manufacturer reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.25. The company had revenue of $37.30 billion for the quarter, compared to analyst estimates of $35.75 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts expect that General Motors Co. will post $5.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 23rd. Stockholders of record on Friday, June 10th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date of this dividend was Wednesday, June 8th.
In other news, EVP James B. Deluca sold 10,374 shares of the company’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $31.48, for a total transaction of $326,573.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Other hedge funds and institutional investors have bought and sold shares of the company. Artemis Investment Management LLP acquired a new position in General Motors during the fourth quarter valued at about $81,110,000. Oakmont Corp acquired a new position in General Motors during the fourth quarter valued at about $49,204,000. Principal Financial Group Inc. raised its position in General Motors by 63.0% in the fourth quarter. Principal Financial Group Inc. now owns 3,037,974 shares of the auto manufacturer’s stock valued at $103,321,000 after buying an additional 1,173,995 shares during the period. Vanguard Group Inc. raised its position in General Motors by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 82,980,517 shares of the auto manufacturer’s stock valued at $2,822,167,000 after buying an additional 1,007,164 shares during the period. Finally, Gluskin Sheff & Assoc Inc. acquired a new position in General Motors during the fourth quarter valued at about $32,437,000.
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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