General Motors (NYSE:GM) Shares Gap Down to $46.48

General Motors (NYSE:GM) (TSE:GMM.U) shares gapped down prior to trading on Monday . The stock had previously closed at $46.48, but opened at $44.92. General Motors shares last traded at $45.04, with a volume of 2,313,505 shares changing hands.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. UBS Group boosted their target price on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Nomura Securities raised General Motors to a “strong sell” rating in a report on Monday, August 5th. Four analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, General Motors presently has a consensus rating of “Hold” and an average price target of $55.47.

General Motors Stock Up 0.1 %

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 firm’s 50-day moving average price is $45.89 and its 200 day moving average price is $45.62. The firm has a market capitalization of $51.19 billion, a price-to-earnings ratio of 5.49, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter last year, the business posted $1.91 earnings per share. General Motors’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts expect that General Motors will post 9.95 EPS for the current year.

General Motors Announces Dividend

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

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

Insider Activity at General Motors

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

Hedge Funds Weigh In On General Motors

Hedge funds have recently made changes to their positions in the stock. LifeSteps Financial Inc. acquired a new position in shares of General Motors in the 1st quarter valued at about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in General Motors in the second quarter valued at approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the second quarter valued at approximately $28,000. Fortitude Family Office LLC grew its stake in General Motors by 56.1% during 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 period. Finally, Montag A & Associates Inc. acquired a new stake in shares of General Motors in the first quarter worth $30,000. Institutional investors and hedge funds 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.