General Motors (NYSE:GM) Trading Up 0.5%

Shares of General Motors (NYSE:GM) (TSE:GMM.U) rose 0.5% during mid-day trading on Friday . The company traded as high as $45.40 and last traded at $45.10. Approximately 2,173,175 shares traded hands during trading, a decline of 86% from the average daily volume of 15,788,025 shares. The stock had previously closed at $44.86.

Wall Street Analyst Weigh In

GM has been the subject of several analyst reports. Piper Sandler upped their price objective on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lifted their price objective on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. Finally, Mizuho increased their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and an average price target of $55.17.

General Motors Price Performance

The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $51.70 billion, a PE ratio of 5.51, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43. The firm’s 50 day simple moving average is $46.03 and its 200 day simple moving average is $43.69.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.91 EPS. As a group, research analysts anticipate that General Motors will post 9.94 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th 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 1.06%. The ex-dividend date is Friday, September 6th. General Motors’s dividend payout ratio is currently 5.87%.

General Motors declared that its board has approved a stock buyback program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the transaction, the president now owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other General Motors news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now owns 176,907 shares in the company, valued at $7,684,840.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Mark L. Reuss sold 14,858 shares of General Motors stock in a transaction on Friday, June 7th. The shares were sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the transaction, the president now owns 162,049 shares in the company, valued at $7,455,874.49. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock worth $51,818,111 in the last 90 days. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Motors

A number of hedge funds have recently made changes to their positions in GM. LifeSteps Financial Inc. acquired a new position in shares of General Motors during the first quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC raised its stake in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. Cape Investment Advisory Inc. boosted its holdings in General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares in the last quarter. Finally, Montag A & Associates Inc. purchased a new stake in shares of General Motors during the first quarter worth about $30,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Company Profile

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.