Traders Sell Shares of General Motors Company (GM) on Strength (GM)
Traders sold shares of General Motors Company (NYSE:GM) (TSE:GMM.U) on strength during trading hours on Thursday. $43.36 million flowed into the stock on the tick-up and $186.70 million flowed out of the stock on the tick-down, for a money net flow of $143.34 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 $0.22 for the day and closed at $39.10
GM has been the subject of several research analyst reports. Buckingham Research restated a “neutral” rating on shares of General Motors in a research report on Friday, June 2nd. Vetr upgraded General Motors to a “strong-buy” rating in a research report on Friday, June 9th. Berenberg Bank restated a “sell” rating and set a $31.00 price target on shares of General Motors in a research report on Tuesday, June 13th. Wolfe Research initiated coverage on General Motors in a research report on Tuesday, June 13th. They set a “market perform” rating and a $33.00 price target for the company. Finally, Jefferies Group LLC restated a “buy” rating and set a $36.00 price target on shares of General Motors in a research report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. General Motors presently has an average rating of “Buy” and an average target price of $39.11.
The stock has a 50 day moving average price of $36.19 and a 200 day moving average price of $35.09. The firm has a market capitalization of $57.44 billion, a P/E ratio of 6.85 and a beta of 1.44.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter last year, the company posted $1.86 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts predict that General Motors Company will post $6.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.86%. General Motors’s payout ratio is 26.48%.
In other news, insider John J. Quattrone sold 15,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $35.00, for a total transaction of $525,000.00. Following the transaction, the insider now owns 42,623 shares of the company’s stock, valued at $1,491,805. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas S. Timko sold 17,255 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the transaction, the vice president now directly owns 26,100 shares in the company, valued at approximately $934,119. The disclosure for this sale can be found here. Insiders have sold 614,947 shares of company stock worth $22,402,528 in the last ninety days. Corporate insiders own 0.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of GM. YorkBridge Wealth Partners LLC lifted its holdings in General Motors by 43.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after acquiring an additional 860 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new position in General Motors in the first quarter worth about $106,000. FNY Managed Accounts LLC bought a new position in General Motors in the first quarter worth about $107,000. State of Alaska Department of Revenue lifted its holdings in General Motors by 10.5% in the second quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after acquiring an additional 310 shares during the last quarter. Finally, Ffcm LLC lifted its holdings in General Motors by 2,008.1% in the second quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after acquiring an additional 3,213 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.
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General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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