General Motors (NYSE:GM) Short Interest Down 9.5% in October

General Motors (NYSE:GM) (TSE:GMM.U) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 29,650,000 shares, a drop of 9.5% from the October 15th total of 32,760,000 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 12,470,000 shares, the short-interest ratio is currently 2.4 days.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. This represents a 60.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the sale, the president now owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 653,511 shares of company stock worth $35,012,844 over the last quarter. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new position in General Motors in the second quarter valued at approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors in the third quarter valued at $27,000. Truvestments Capital LLC bought a new position in shares of General Motors during the 3rd quarter worth $27,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors in the 2nd quarter worth about $28,000. Finally, Fortitude Family Office LLC increased its holdings in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. UBS Group lifted their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research note on Friday, October 11th. Nomura Securities raised General Motors to a “strong sell” rating in a research report on Monday, August 5th. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. Finally, Wells Fargo & Company boosted their price target on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Stock Down 1.5 %

General Motors stock traded down $0.85 during midday trading on Tuesday, hitting $55.40. 10,449,719 shares of the stock were exchanged, compared to its average volume of 14,878,221. General Motors has a 52-week low of $27.70 and a 52-week high of $59.39. The business’s 50-day moving average price is $49.90 and its 200-day moving average price is $47.40. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $60.92 billion, a price-to-earnings ratio of 6.00, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $2.28 EPS. On average, research analysts expect that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is 5.12%.

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.