Traders Buy Shares of General Motors Co. (GM) on Weakness
Investors bought shares of General Motors Co. (NYSE:GM) on weakness during trading on Wednesday. $64.57 million flowed into the stock on the tick-up and $33.11 million flowed out of the stock on the tick-down, for a money net flow of $31.46 million into the stock. Of all companies tracked, General Motors had the 9th highest net in-flow for the day. General Motors traded down ($0.13) for the day and closed at $32.02
Several brokerages recently weighed in on GM. JPMorgan Chase & Co. restated an “overweight” rating and issued a $45.00 price objective (down from $47.00) on shares of General Motors in a report on Tuesday, April 19th. Piper Jaffray Cos. began coverage on shares of General Motors in a report on Thursday, June 9th. They issued an “overweight” rating and a $41.00 price objective on the stock. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $28.00 to $29.00 in a report on Friday, May 6th. Royal Bank Of Canada increased their target price on shares of General Motors from $30.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, April 22nd. Finally, SunTrust Banks Inc. reiterated a “buy” rating and issued a $28.00 target price on shares of General Motors in a report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.16.
The stock has a market capitalization of $50.01 billion and a P/E ratio of 4.10. The company’s 50-day moving average price is $29.78 and its 200 day moving average price is $30.23.
General Motors (NYSE:GM) last posted its quarterly earnings data on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.35. The firm earned $42.40 billion during the quarter, compared to the consensus estimate of $38.81 billion. During the same period in the prior year, the company posted $1.29 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts expect that General Motors Co. will post $5.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Wednesday, September 7th.
In other news, EVP James B. Deluca sold 10,374 shares of the company’s stock in a transaction on 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 through this link.
Several large investors have recently bought and sold shares of GM. Thornburg Investment Management Inc. raised its stake in 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. FineMark National Bank & Trust raised its stake in General Motors by 4.7% in the fourth quarter. FineMark National Bank & Trust now owns 42,070 shares of the auto manufacturer’s stock worth $1,431,000 after buying an additional 1,896 shares in the last quarter. Monetta Financial Services Inc. purchased a new stake in General Motors during the fourth quarter worth approximately $1,462,000. Stephens Inc. AR raised its stake in General Motors by 13.7% in the fourth quarter. Stephens Inc. AR now owns 58,192 shares of the auto manufacturer’s stock worth $1,979,000 after buying an additional 7,005 shares in the last quarter. Finally, Pekin Singer Strauss Asset Management IL raised its stake in General Motors by 20.5% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 63,159 shares of the auto manufacturer’s stock worth $2,148,000 after buying an additional 10,764 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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