General Motors (NYSE:GM) Shares Up 0.1%

Shares of General Motors (NYSE:GM) (TSE:GMM.U) traded up 0.1% on Wednesday . The company traded as high as $45.40 and last traded at $45.33. 2,168,742 shares were traded during trading, a decline of 87% from the average session volume of 16,843,980 shares. The stock had previously closed at $45.28.

Analyst Upgrades and Downgrades

Several research firms have commented on GM. Sanford C. Bernstein initiated coverage on General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price on the stock. Piper Sandler increased their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. UBS Group lifted their target price on shares of General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Morgan Stanley increased their price target on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Finally, Redburn Atlantic assumed coverage on shares of General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.65.

General Motors Stock Down 0.5 %

The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The company has a fifty day simple moving average of $43.05 and a 200-day simple moving average of $37.11. The firm has a market cap of $51.40 billion, a P/E ratio of 5.54, a price-to-earnings-growth ratio of 0.53 and a beta of 1.49.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same period in the previous year, the company posted $2.21 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts anticipate that General Motors will post 9.44 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 5.87%.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 5,100 shares of General Motors stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the sale, the executive vice president now owns 12,658 shares in the company, valued at $544,800.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the transaction, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at $544,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Motors

A number of institutional investors and hedge funds have recently made changes to their positions in GM. Vanguard Group Inc. grew its position in General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after acquiring an additional 1,580,681 shares in the last quarter. Putnam Investments LLC increased its position in shares of General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after purchasing an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after buying an additional 3,247,050 shares during the period. Norges Bank bought a new stake in General Motors in the fourth quarter worth $602,280,000. Finally, Morgan Stanley increased its position in General Motors by 1.3% during the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock valued at $501,562,000 after acquiring an additional 201,080 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.