Traders Buy General Motors Co. (GM) on Weakness
Investors purchased shares of General Motors Co. (NYSE:GM) on weakness during trading hours on Monday. $149.56 million flowed into the stock on the tick-up and $37.58 million flowed out of the stock on the tick-down, for a money net flow of $111.98 million into the stock. Of all companies tracked, General Motors had the highest net in-flow for the day. General Motors traded down ($0.10) for the day and closed at $32.06
Several analysts recently commented on the stock. RBC Capital Markets reissued a “sector perform” rating and set a $34.00 price objective (up from $32.00) on shares of General Motors in a research report on Sunday. Daiwa Capital Markets downgraded shares of General Motors from an “outperform” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a research report on Friday. Royal Bank Of Canada increased their price objective on shares of General Motors from $32.00 to $34.00 and gave the company a “sector perform” rating in a research report on Friday. Citigroup Inc. reaffirmed a “buy” rating and set a $50.00 price target on shares of General Motors in a report on Thursday, July 21st. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $36.00 price target on shares of General Motors in a report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. General Motors has a consensus rating of “Hold” and an average price target of $35.27.
The firm’s 50-day moving average price is $29.66 and its 200-day moving average price is $30.20. The firm has a market capitalization of $50.08 billion and a PE ratio of 4.11.
General Motors (NYSE:GM) last released its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.35. During the same period last year, the business earned $1.29 earnings per share. The firm had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.81 billion. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that General Motors Co. will post $5.83 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, September 9th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Wednesday, September 7th.
In related news, EVP James B. Deluca sold 10,374 shares of General Motors stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $31.48, for a total transaction of $326,573.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Other hedge funds and institutional investors have made changes to their positions in the company. Robeco Institutional Asset Management B.V. boosted its position in shares of General Motors by 14.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 149,713 shares of the auto manufacturer’s stock worth $5,092,000 after buying an additional 18,579 shares in the last quarter. Liberty Mutual Group Asset Management Inc. boosted its position in shares of General Motors by 9.2% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 86,039 shares of the auto manufacturer’s stock worth $2,926,000 after buying an additional 7,262 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of General Motors during the fourth quarter worth approximately $3,560,000. Thornburg Investment Management Inc. boosted its position in shares of General Motors by 215.5% in the fourth quarter. Thornburg Investment Management Inc. now owns 35,495 shares of the auto manufacturer’s stock worth $1,207,000 after buying an additional 24,243 shares in the last quarter. Finally, LS Investment Advisors LLC boosted 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 worth $1,572,000 after buying an additional 6,429 shares in the last quarter.
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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