Investors Buy Shares of General Motors (GM) on Weakness

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Traders bought shares of General Motors (NYSE:GM) (TSE:GMM.U) on weakness during trading on Thursday. $123.55 million flowed into the stock on the tick-up and $71.88 million flowed out of the stock on the tick-down, for a money net flow of $51.67 million into the stock. Of all equities tracked, General Motors had the 33rd highest net in-flow for the day. General Motors traded down ($0.44) for the day and closed at $35.70

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of General Motors from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, November 27th. Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday, November 16th. BMO Capital Markets reissued a “hold” rating and issued a $38.00 target price on shares of General Motors in a research note on Tuesday, November 13th. Morgan Stanley increased their target price on General Motors from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Tuesday, November 6th. Finally, Nomura dropped coverage on General Motors in a research note on Tuesday, November 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. General Motors currently has an average rating of “Buy” and an average price target of $45.74.

The company has a market cap of $50.39 billion, a P/E ratio of 5.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.25. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.89 and a quick ratio of 0.76.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Wednesday, October 31st. The auto manufacturer reported $1.87 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.62. The business had revenue of $35.79 billion for the quarter, compared to analysts’ expectations of $34.85 billion. General Motors had a return on equity of 25.81% and a net margin of 0.56%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.32 earnings per share. Equities analysts anticipate that General Motors will post 6.26 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, December 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.38%. General Motors’s dividend payout ratio (DPR) is currently 22.96%.

Several large investors have recently made changes to their positions in GM. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of General Motors by 83.4% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,173 shares of the auto manufacturer’s stock valued at $204,000 after buying an additional 2,353 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of General Motors during the second quarter valued at about $293,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of General Motors during the second quarter valued at about $5,232,000. Fiduciary Trust Co. bought a new position in shares of General Motors during the second quarter valued at about $201,000. Finally, Engineers Gate Manager LP bought a new position in shares of General Motors during the second quarter valued at about $5,043,000. 74.31% of the stock is currently owned by hedge funds and other institutional investors.

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About General Motors (NYSE:GM)

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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