Investors Sell General Motors Co. (GM) on Strength (GM)
Investors sold shares of General Motors Co. (NYSE:GM) on strength during trading hours 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 companies 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 research analysts have recently issued reports on GM shares. Vetr upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $32.30 price target on the stock in a research report on Wednesday, June 1st. Goldman Sachs Group Inc. raised their price target on shares of General Motors from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, April 22nd. Buckingham Research restated a “neutral” rating on shares of General Motors in a research report on Thursday, May 5th. Robert W. Baird restated a “neutral” rating and issued a $25.00 price target on shares of General Motors in a research report on Monday, June 20th. Finally, Morgan Stanley restated a “sell” rating and issued a $28.00 price target on shares of General Motors in a research report on Tuesday, May 3rd. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. General Motors has a consensus rating of “Buy” and a consensus price target of $36.06.
The stock has a market cap of $45.67 billion and a price-to-earnings ratio of 4.47. The firm has a 50-day moving average of $29.51 and a 200-day moving average of $30.38.
General Motors (NYSE:GM) last posted its earnings results on Thursday, April 21st. The auto manufacturer reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.25. The firm earned $37.30 billion during the quarter, compared to the consensus estimate of $35.75 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts predict that General Motors Co. will post $5.64 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Stockholders of record on Friday, June 10th were issued a $0.38 dividend. This represents a $1.52 annualized dividend 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 value of $326,573.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
A number of hedge funds and institutional investors recently modified their holdings of the company. Tredje AP fonden increased its position in shares of General Motors by 1.2% in the fourth quarter. Tredje AP fonden now owns 93,922 shares of the auto manufacturer’s stock valued at $3,194,000 after buying an additional 1,138 shares during the period. FineMark National Bank & Trust increased its position in shares of General Motors by 4.7% in the fourth quarter. FineMark National Bank & Trust now owns 42,070 shares of the auto manufacturer’s stock valued at $1,431,000 after buying an additional 1,896 shares during the period. Alpha Cubed Investments LLC increased its position in shares of General Motors by 0.7% in the fourth quarter. Alpha Cubed Investments LLC now owns 336,536 shares of the auto manufacturer’s stock valued at $11,446,000 after buying an additional 2,182 shares during the period. Columbia Asset Management increased its position in shares of General Motors by 4.4% in the fourth quarter. Columbia Asset Management now owns 88,586 shares of the auto manufacturer’s stock valued at $3,012,000 after buying an additional 3,727 shares during the period. Finally, LS Investment Advisors LLC increased its position in shares of General Motors by 16.2% in the fourth quarter. LS Investment Advisors LLC now owns 46,231 shares of the auto manufacturer’s stock valued at $1,572,000 after buying an additional 6,429 shares during the period.
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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