General Motors (NYSE:GM) Trading 1.3% Higher

General Motors (NYSE:GM) (TSE:GMM.U)’s stock price was up 1.3% on Monday . The company traded as high as $47.62 and last traded at $46.92. Approximately 2,186,429 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 15,336,631 shares. The stock had previously closed at $46.30.

Analysts Set New Price Targets

A number of analysts recently weighed in on GM shares. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. UBS Group upped their price objective on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada cut their price target on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.27.

General Motors Stock Up 2.4 %

The stock has a market cap of $55.53 billion, a PE ratio of 5.95, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The business has a 50-day moving average price of $46.22 and a 200-day moving average price of $45.12.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.91 EPS. As a group, analysts forecast that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. General Motors’s payout ratio is currently 5.87%.

General Motors announced that its Board of Directors has initiated a share repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The transaction was disclosed in a filing with the SEC, which is available at this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several hedge funds and other institutional investors have recently made changes to their positions in GM. Capital World Investors lifted its stake in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the last quarter. Swedbank AB acquired a new position in General Motors during the first quarter worth $159,750,000. Hotchkis & Wiley Capital Management LLC grew its holdings in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares during the period. Putnam Investments LLC boosted its position in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in General Motors by 1,213.0% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after purchasing an additional 2,035,925 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.