General Motors (NYSE:GM) Sees Strong Trading Volume

Shares of General Motors (NYSE:GM) (TSE:GMM.U) saw unusually-high trading volume on Friday . Approximately 5,976,441 shares traded hands during trading, a decline of 61% from the previous session’s volume of 15,439,972 shares.The stock last traded at $49.60 and had previously closed at $49.47.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Bank of America restated a “buy” rating and issued a $75.00 target price on shares of General Motors in a research note on Wednesday, June 12th. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a report on Monday, August 5th. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of General Motors in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lowered their price objective 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. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.17.

General Motors Stock Performance

The firm has a market cap of $56.80 billion, a PE ratio of 6.09, a PEG ratio of 0.44 and a beta of 1.43. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The company has a 50-day simple moving average of $46.08 and a two-hundred day simple moving average of $44.41.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.91 earnings per share. As a group, equities research analysts forecast that General Motors will post 9.94 earnings per share for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 0.96%. General Motors’s payout ratio is 5.87%.

General Motors announced that its Board of Directors has initiated a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits 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 board of directors believes its stock is undervalued.

Insider Activity

In other General Motors news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now owns 162,049 shares in the company, valued at $7,455,874.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other General Motors news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the sale, the president now owns 162,049 shares in the company, valued at $7,455,874.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction on Friday, August 23rd. The shares were 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 owns 10,356 shares of the company’s stock, valued at $489,942.36. The disclosure for this sale can be found here. Insiders have sold 391,402 shares of company stock valued at $18,818,536 in the last 90 days. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

A number of institutional investors and hedge funds have recently modified their holdings of GM. SJS Investment Consulting Inc. increased its holdings in General Motors by 34.5% during the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after acquiring an additional 203 shares during the period. Fortitude Family Office LLC grew its position in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in shares of General Motors by 3.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after buying an additional 227 shares in the last quarter. Institute for Wealth Management LLC. boosted its stake in General Motors by 0.6% during the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after buying an additional 230 shares during the period. Finally, Beech Hill Advisors Inc. increased its stake in General Motors by 1.6% in the 2nd quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock worth $708,000 after acquiring an additional 233 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.