General Motors Co. (GM) Shares Gap Up to $31.25
General Motors Co. (NYSE:GM) shares 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 changing hands.
A number of research firms have weighed in on GM. Barclays PLC reaffirmed an “equal weight” rating and issued a $36.00 price objective on shares of General Motors in a report on Thursday. Seaport Global Securities began coverage on shares of General Motors in a report on Tuesday. They issued a “buy” rating and a $42.00 price objective for the company. Jefferies Group began coverage on shares of General Motors in a report on Tuesday. They issued a “hold” rating and a $33.00 price objective for the company. Argus reaffirmed a “hold” rating on shares of General Motors in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $43.00 price objective on shares of General Motors in a report on Tuesday, July 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. General Motors presently has an average rating of “Hold” and a consensus price target of $35.60.
The company has a market cap of $49.31 billion and a price-to-earnings ratio of 4.04. The stock’s 50 day moving average price is $30.32 and its 200-day moving average price is $30.32.
General Motors (NYSE:GM) last announced its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.35. During the same quarter in the prior year, the business earned $1.29 EPS. The company earned $42.40 billion during the quarter, compared to analysts’ expectations of $38.81 billion. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts anticipate that General Motors Co. will post $5.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders 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 yield of 4.81%.
In other General Motors news, EVP James B. Deluca sold 10,374 shares of the firm’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jane L. Mendillo bought 1,600 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were acquired at an average price of $31.01 per share, with a total value of $49,616.00. Following the completion of the acquisition, the director now directly owns 1,600 shares in the company, valued at approximately $49,616. The disclosure for this purchase can be found here.
Other institutional investors have bought and sold shares of the company. Oakmont Corp acquired a new position in General Motors during the fourth quarter valued at $49,204,000. State of Tennessee Treasury Department increased its position in 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 valued at $36,161,000 after buying an additional 292,274 shares during the period. Dimensional Fund Advisors LP increased 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 valued at $410,913,000 after buying an additional 249,254 shares during the period. Marshall Wace LLP acquired a new position in General Motors during the fourth quarter valued at $2,849,000. Finally, KBC Group NV increased its position in General Motors by 6.3% in the fourth quarter. KBC Group NV now owns 739,370 shares of the auto manufacturer’s stock valued at $25,146,000 after buying an additional 43,999 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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