Investors Sell Shares of General Motors Co. (GM) on Strength (GM)
Investors sold shares of General Motors Co. (NYSE:GM) on strength during trading hours on Monday. $33.39 million flowed into the stock on the tick-up and $57.81 million flowed out of the stock on the tick-down, for a money net flow of $24.42 million out of the stock. Of all stocks tracked, General Motors had the 0th highest net out-flow for the day. General Motors traded up $0.10 for the day and closed at $30.87
GM has been the topic of a number of analyst reports. Royal Bank Of Canada raised their price objective on shares of General Motors from $30.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, April 22nd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $45.00 target price (down from $47.00) on shares of General Motors in a research report on Tuesday, April 19th. Citigroup Inc. reaffirmed a “buy” rating and issued a $44.00 target price on shares of General Motors in a research report on Friday, April 22nd. Bank of America Corp. reaffirmed a “buy” rating on shares of General Motors in a research report on Tuesday, April 19th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of General Motors in a research report on Wednesday, June 22nd. Eleven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.06.
The company has a market capitalization of $47.53 billion and a PE ratio of 4.66. The company’s 50 day moving average is $29.43 and its 200 day moving average is $30.19.
General Motors (NYSE:GM) last issued its earnings results on Thursday, April 21st. The auto manufacturer reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.25. The business had revenue of $37.30 billion for the quarter, compared to analyst estimates of $35.75 billion. During the same period last year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts forecast that General Motors Co. will post $5.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 23rd. Shareholders of record on Friday, June 10th were issued a dividend of $0.38 per share. The ex-dividend date was Wednesday, June 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.92%.
In other General Motors news, EVP James B. Deluca sold 10,374 shares of the stock in a transaction on Friday, May 27th. The shares were sold at an average price of $31.48, for a total transaction of $326,573.52. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Several hedge funds have modified their holdings of GM. Vanguard Group Inc. boosted its stake in shares of General Motors by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 82,980,517 shares of the auto manufacturer’s stock worth $2,822,167,000 after buying an additional 1,007,164 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of General Motors by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,081,301 shares of the auto manufacturer’s stock worth $410,913,000 after buying an additional 249,254 shares during the period. Principal Financial Group Inc. boosted its stake in shares of 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 worth $103,321,000 after buying an additional 1,173,995 shares during the period. Oakmont Corp acquired a new stake in shares of General Motors during the fourth quarter worth $49,204,000. Finally, State of Tennessee Treasury Department boosted its stake in shares of General Motors by 37.9% in the fourth quarter. State of Tennessee Treasury Department now owns 1,063,274 shares of the auto manufacturer’s stock worth $36,161,000 after buying an additional 292,274 shares during the 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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