Traders Sell General Motors Co. (GM) on Strength (GM)
Investors sold shares of General Motors Co. (NYSE:GM) on strength during trading on Tuesday. $40.33 million flowed into the stock on the tick-up and $58.81 million flowed out of the stock on the tick-down, for a money net flow of $18.48 million out of the stock. Of all companies tracked, General Motors had the 0th highest net out-flow for the day. General Motors traded up $0.09 for the day and closed at $32.15
Several brokerages have weighed in on GM. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $43.00 price target on shares of General Motors in a report on Tuesday. RBC Capital Markets reissued a “sector perform” rating and issued a $34.00 target price (up previously from $32.00) on shares of General Motors in a report on Sunday. Daiwa Capital Markets downgraded shares of General Motors from an “outperform” rating to a “neutral” rating and set a $31.00 target price on the stock. in a report on Friday, July 22nd. Royal Bank Of Canada boosted their target price on shares of General Motors from $32.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, July 22nd. Finally, Citigroup Inc. reissued a “buy” rating and issued a $50.00 target price on shares of General Motors in a report on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $35.16.
The firm has a market capitalization of $50.22 billion and a P/E ratio of 4.12. The firm has a 50 day moving average price of $29.72 and a 200-day moving average price of $30.22.
General Motors (NYSE:GM) last posted its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, topping the consensus estimate of $1.51 by $0.35. During the same quarter in the prior year, the firm earned $1.29 EPS. The company had revenue of $42.40 billion for the quarter, compared to analysts’ expectations of $38.81 billion. The firm’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that General Motors Co. will post $5.84 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.73%.
In other news, EVP James B. Deluca sold 10,374 shares of General Motors stock in a transaction on Friday, May 27th. The stock was sold at an average price of $31.48, for a total transaction of $326,573.52. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several hedge funds and institutional investors recently bought and sold shares of GM. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position 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 in the last quarter. Principal Financial Group Inc. increased 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 last quarter. Golub Group LLC increased its stake in shares of General Motors by 1.0% in the fourth quarter. Golub Group LLC now owns 911,147 shares of the auto manufacturer’s stock worth $30,988,000 after buying an additional 8,950 shares during the last quarter. Pekin Singer Strauss Asset Management IL increased its stake in shares of General Motors by 20.5% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 63,159 shares of the auto manufacturer’s stock worth $2,148,000 after buying an additional 10,764 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of General Motors by 14.2% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 149,713 shares of the auto manufacturer’s stock worth $5,092,000 after buying an additional 18,579 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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.