Investors Sell Shares of General Motors Co. (GM) on Strength (GM)
Traders sold shares of General Motors Co. (NYSE:GM) on strength during trading hours on Thursday. $59.95 million flowed into the stock on the tick-up and $81.64 million flowed out of the stock on the tick-down, for a money net flow of $21.69 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 $0.50 for the day and closed at $31.75
Several brokerages have recently weighed in on GM. Goldman Sachs Group Inc. restated a “hold” rating on shares of General Motors in a research note on Saturday, April 23rd. Vetr downgraded General Motors from a “buy” rating to a “hold” rating and set a $32.30 target price for the company. in a research note on Wednesday, May 25th. Buckingham Research restated a “neutral” rating on shares of General Motors in a research note on Thursday, May 5th. Stifel Nicolaus restated a “hold” rating on shares of General Motors in a research note on Thursday, April 21st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of General Motors in a research note on Saturday, April 23rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $35.60.
The firm has a market cap of $49.38 billion and a PE ratio of 4.049. The stock has a 50-day moving average of $30.31 and a 200-day moving average of $30.31.
General Motors (NYSE:GM) last released its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.35. During the same quarter last year, the firm earned $1.29 earnings per share. The firm earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that General Motors Co. will post $5.85 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be given a $0.38 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.79%.
In other news, Director Jane L. Mendillo purchased 1,600 shares of General Motors stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average cost 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 in the company, valued at $49,616. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James B. Deluca sold 10,374 shares of the business’s stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $31.48, for a total transaction of $326,573.52. The disclosure for this sale can be found here.
A number of institutional investors have recently added to or reduced their stakes in the stock. Gluskin Sheff & Assoc Inc. purchased a new position in General Motors during the fourth quarter worth approximately $32,437,000. Victory Capital Management Inc. raised its position in General Motors by 50.2% in the fourth quarter. Victory Capital Management Inc. now owns 89,765 shares of the auto manufacturer’s stock worth $3,053,000 after buying an additional 30,001 shares during the period. Advisors Asset Management Inc. raised 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 worth $2,185,000 after buying an additional 9,008 shares during the period. Broadview Advisors LLC raised 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 worth $1,488,000 after buying an additional 9,750 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in 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.
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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