Traders Sell General Motors Co. (GM) on Strength (GM)
Traders sold shares of General Motors Co. (NYSE:GM) on strength during trading on Friday. $38.22 million flowed into the stock on the tick-up and $58.69 million flowed out of the stock on the tick-down, for a money net flow of $20.47 million out of the stock. Of all equities tracked, General Motors had the 0th highest net out-flow for the day. General Motors traded up $0.36 for the day and closed at $32.16
Several research firms recently issued reports on GM. Vetr downgraded General Motors from a “buy” rating to a “hold” rating and set a $32.30 target price on the stock. in a research report on Wednesday, May 25th. Jefferies Group reissued a “hold” rating on shares of General Motors in a research report on Friday. JPMorgan Chase & Co. reissued a “buy” rating and issued a $43.00 target price on shares of General Motors in a research report on Tuesday, July 26th. Morgan Stanley raised General Motors to a “hold” rating in a research report on Thursday, May 12th. Finally, Zacks Investment Research downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $35.60.
The stock has a market capitalization of $50.23 billion and a price-to-earnings ratio of 4.12. The stock has a 50 day moving average price of $31.48 and a 200 day moving average price of $30.64.
General Motors (NYSE:GM) last issued its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.35. The firm had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.81 billion. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 earnings per share. Analysts forecast that General Motors Co. will post $5.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.73%.
In other General Motors news, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total transaction of $199,625.00. Following the transaction, the vice president now directly owns 27,477 shares in the company, valued at $877,615.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jane L. Mendillo bought 1,600 shares of the stock in a transaction on Tuesday, August 2nd. The shares were bought at an average price of $31.01 per share, for a total transaction of $49,616.00. Following the completion of the transaction, the director now directly owns 1,600 shares of the company’s stock, valued at approximately $49,616. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in General Motors stock. Dimensional Fund Advisors LP increased its stake in General Motors Co. (NYSE:GM) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,081,301 shares of the auto manufacturer’s stock after buying an additional 249,254 shares during the period. Dimensional Fund Advisors LP owned approximately 0.78% of General Motors worth $410,913,000 at the end of the most recent reporting period.
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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