General Motors (NYSE:GM) Trading Down 0.6%

General Motors (NYSE:GM) (TSE:GMM.U) traded down 0.6% on Tuesday . The company traded as low as $44.39 and last traded at $44.55. 3,853,979 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 15,283,655 shares. The stock had previously closed at $44.84.

Analyst Upgrades and Downgrades

GM has been the topic of several research analyst reports. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research note on Monday, August 5th. The Goldman Sachs Group increased their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday. Wolfe Research initiated coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Wedbush restated an “outperform” rating and issued a $55.00 target price on shares of General Motors in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company reduced their price target on General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.47.

General Motors Price Performance

The stock has a 50 day moving average of $45.92 and a two-hundred day moving average of $45.59. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The stock has a market cap of $51.39 billion, a PE ratio of 5.49, a PEG ratio of 0.56 and a beta of 1.43.

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. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the prior year, the firm earned $1.91 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that General Motors will post 9.95 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, September 6th. General Motors’s payout ratio is 5.87%.

General Motors announced that its board 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 buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at General Motors

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Capital World Investors increased its position in General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the period. Swedbank AB acquired a new position in General Motors during the 1st quarter valued at $159,750,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after purchasing an additional 3,247,050 shares during the period. Putnam Investments LLC grew its position in General Motors by 16.8% in the 4th 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 during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in shares of General Motors by 1,213.0% during the 4th 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 during the period. 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.