General Motors Co. (GM) Trading Down 3.5%
General Motors Co. (NYSE:GM)’s share price dropped 3.5% during mid-day trading on Thursday . The company traded as low as $30.65 and last traded at $30.90, with a volume of 14,291,543 shares traded. The stock had previously closed at $32.02.
GM has been the subject of a number of research analyst reports. Citigroup Inc. reiterated a “buy” rating and set a $44.00 price objective on shares of General Motors in a research report on Friday, April 22nd. Bank of America Corp. reiterated a “buy” rating on shares of General Motors in a research report on Tuesday, April 19th. Zacks Investment Research upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Wednesday, April 27th. Vetr upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $33.47 price objective for the company in a research report on Monday, April 25th. Finally, SunTrust Banks Inc. reiterated a “buy” rating and set a $28.00 price objective on shares of General Motors in a research report on Monday, June 20th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $35.39.
The company’s 50 day moving average price is $29.88 and its 200-day moving average price is $30.25. The stock has a market cap of $49.26 billion and a P/E ratio of 4.04.
General Motors (NYSE:GM) last released its quarterly earnings data on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business posted $1.29 earnings per share. General Motors’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that General Motors Co. will post $5.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend is Wednesday, September 7th.
In related news, EVP James B. Deluca sold 10,374 shares of General Motors 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Several hedge funds and institutional investors have recently modified their holdings of the company. Oakmont Corp bought a new stake in General Motors during the fourth quarter valued at $49,204,000. Principal Financial Group Inc. boosted its stake 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. Gluskin Sheff & Assoc Inc. bought a new stake in General Motors during the fourth quarter valued at $32,437,000. Cypress Funds LLC bought a new stake in General Motors during the fourth quarter valued at $14,284,000. Finally, WBI Investments Inc. bought a new stake in General Motors during the fourth quarter valued at $13,985,000.
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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