Investors Buy General Motors Co. (GM) on Weakness
Traders purchased shares of General Motors Co. (NYSE:GM) on weakness during trading hours on Thursday. $121.91 million flowed into the stock on the tick-up and $101.04 million flowed out of the stock on the tick-down, for a money net flow of $20.87 million into the stock. Of all companies tracked, General Motors had the 17th highest net in-flow for the day. General Motors traded down ($1.03) for the day and closed at $30.99
GM has been the subject of a number of analyst reports. Vetr lowered General Motors from a “strong-buy” rating to a “hold” rating and set a $31.98 price objective for the company. in a research report on Monday, April 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $45.00 price objective (down previously from $47.00) on shares of General Motors in a research report on Tuesday, April 19th. Bank of America Corp. reaffirmed a “buy” rating on shares of General Motors in a research report on Tuesday, April 19th. Stifel Nicolaus reiterated a “hold” rating on shares of General Motors in a research note on Thursday, April 21st. Finally, Goldman Sachs Group Inc. increased their target price on General Motors from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.39.
The stock has a market cap of $48.40 billion and a PE ratio of 3.97. The stock has a 50 day moving average of $29.82 and a 200 day moving average of $30.24.
General Motors (NYSE:GM) last released its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.35. During the same period in the previous year, the company earned $1.29 earnings per share. The firm earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors’s revenue was up 11.0% on a year-over-year basis. Equities analysts anticipate that General Motors Co. will post $5.85 EPS for the current fiscal 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 $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Wednesday, September 7th.
In other General Motors 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 hyperlink.
Other large investors have bought and sold shares of the company. Tredje AP fonden raised its stake in 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 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 valued at $1,431,000 after buying an additional 1,896 shares during the last quarter. 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 valued at $1,979,000 after buying an additional 7,005 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in General Motors by 1.5% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 500,490 shares of the auto manufacturer’s stock valued at $17,022,000 after buying an additional 7,596 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in General Motors by 4.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 189,132 shares of the auto manufacturer’s stock valued at $6,432,000 after buying an additional 8,178 shares during 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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