General Motors Sees Unusually Large Options Volume (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) saw some unusual options trading on Tuesday. Stock traders purchased 75,489 call options on the company. This is an increase of 44% compared to the average daily volume of 52,431 call options.

Analyst Upgrades and Downgrades

A number of research firms have commented on GM. UBS Group raised their price objective on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research note on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 price target on shares of General Motors in a research note on Wednesday, October 9th. The Goldman Sachs Group lifted their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Barclays lifted their price target on General Motors from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and a consensus price target of $55.35.

Insider Activity

In other news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction dated 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 purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction 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 purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Strategic Investment Solutions Inc. IL bought a new stake in General Motors in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new stake in General Motors in the 2nd quarter valued at about $28,000. Fortitude Family Office LLC increased its position in General Motors by 56.1% in the 2nd 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 in the last quarter. Montag A & Associates Inc. bought a new stake in General Motors in the 1st quarter valued at about $30,000. Finally, EdgeRock Capital LLC bought a new stake in General Motors in the 2nd quarter valued at about $33,000. 92.67% of the stock is owned by institutional investors.

General Motors Stock Up 9.8 %

Shares of NYSE:GM opened at $53.73 on Wednesday. The company has a market capitalization of $61.30 billion, a price-to-earnings ratio of 6.57, a P/E/G ratio of 0.56 and a beta of 1.42. 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 moving average is $47.33 and its 200-day moving average is $46.04. General Motors has a 1 year low of $26.30 and a 1 year high of $54.17.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data 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 company had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 EPS. Equities research analysts predict that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 0.89%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is 5.87%.

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.