General Motors Co. (GM) Shares Gap Up to $31.25
General Motors Co. (NYSE:GM)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $31.16, but opened at $31.25. General Motors shares last traded at $31.57, with a volume of 4,921,659 shares trading hands.
Several equities analysts have issued reports on the stock. Barclays PLC restated an “equal weight” rating and issued a $36.00 price target on shares of General Motors in a research report on Thursday. Seaport Global Securities initiated coverage on shares of General Motors in a research report on Tuesday. They set a “buy” rating and a $42.00 price objective for the company. Jefferies Group initiated coverage on shares of General Motors in a research report on Tuesday. They set a “hold” rating and a $33.00 price objective for the company. Argus reiterated a “hold” rating on shares of General Motors in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $43.00 price objective on shares of General Motors in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $35.60.
The stock has a 50 day moving average price of $30.31 and a 200-day moving average price of $30.31. The company has a market capitalization of $49.59 billion and a price-to-earnings ratio of 4.07.
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 the Zacks’ consensus estimate of $1.51 by $0.35. The business earned $42.40 billion during the quarter, compared to analysts’ expectations of $38.81 billion. During the same period in the prior year, the company earned $1.29 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Analysts forecast that General Motors Co. will post $5.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Wednesday, September 7th.
In related 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jane L. Mendillo purchased 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the purchase, the director now owns 1,600 shares in the company, valued at $49,616. The disclosure for this purchase can be found here.
Other institutional investors have recently made changes to their positions in the company. Stephens Inc. AR boosted its position in shares of 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 during the last quarter. Hodges Capital Management Inc. boosted its position in General Motors by 12.7% in the fourth quarter. Hodges Capital Management Inc. now owns 72,885 shares of the auto manufacturer’s stock valued at $2,479,000 after buying an additional 8,200 shares in the last quarter. Advisors Asset Management Inc. boosted its position in General Motors by 16.3% in the fourth quarter. Advisors Asset Management Inc. now owns 64,236 shares of the auto manufacturer’s stock valued at $2,185,000 after buying an additional 9,008 shares in the last quarter. Broadview Advisors LLC boosted its position in General Motors by 28.7% in the fourth quarter. Broadview Advisors LLC now owns 43,750 shares of the auto manufacturer’s stock valued at $1,488,000 after buying an additional 9,750 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its position in General Motors by 46.1% in the fourth quarter. Suntrust Banks Inc. now owns 90,194 shares of the auto manufacturer’s stock valued at $3,065,000 after buying an additional 28,452 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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