General Motors (NYSE:GM) Shares Down 2.8%

General Motors (NYSE:GM) (TSE:GMM.U) traded down 2.8% during mid-day trading on Monday . The company traded as low as $46.97 and last traded at $47.49. 4,520,237 shares traded hands during trading, a decline of 70% from the average session volume of 15,285,459 shares. The stock had previously closed at $48.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GM shares. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of General Motors in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. Royal Bank of Canada lowered their target price on General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Wells Fargo & Company lowered their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus price target of $55.17.

General Motors Trading Down 2.3 %

The stock has a market cap of $54.51 billion, a P/E ratio of 5.78, a PEG ratio of 0.52 and a beta of 1.43. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The business’s 50 day simple moving average is $46.28 and its 200 day simple moving average is $45.29.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 EPS. On average, analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is presently 5.87%.

General Motors announced that its board has authorized a share repurchase plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity at General Motors

In related news, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average price 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 directly owns 261,872 shares in the company, valued at $11,551,173.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. LifeSteps Financial Inc. bought a new stake in General Motors in the first quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors in the 2nd quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors in the second quarter worth about $28,000. Fortitude Family Office LLC raised its holdings in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the last quarter. Finally, Cape Investment Advisory Inc. lifted its stake in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.