Shares of General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) hit a new 52-week low during trading on Wednesday after TheStreet downgraded the stock from a b- rating to a c+ rating. The company traded as low as $30.63 and last traded at $31.03, with a volume of 13384768 shares trading hands. The stock had previously closed at $31.38.
GM has been the topic of a number of other reports. Wells Fargo & Company cut their price objective on shares of General Motors from $33.00 to $29.00 and set an “underweight” rating on the stock in a report on Tuesday. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Mizuho cut their price target on shares of General Motors to $40.00 in a report on Wednesday, July 19th. Barclays boosted their price target on shares of General Motors from $42.00 to $46.00 in a report on Monday, July 10th. Finally, UBS Group raised shares of General Motors from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $41.00 to $44.00 in a report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.47.
Insider Buying and Selling
In other General Motors news, President Mark L. Reuss sold 9,300 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $41.00, for a total value of $381,300.00. Following the completion of the sale, the president now owns 282,973 shares of the company’s stock, valued at $11,601,893. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is owned by company insiders.
Institutional Trading of General Motors
A number of institutional investors have recently made changes to their positions in GM. Bank Julius Baer & Co. Ltd Zurich lifted its stake in General Motors by 94,113.4% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 16,754,917 shares of the auto manufacturer’s stock worth $646,070,000 after acquiring an additional 16,737,133 shares during the period. Norges Bank purchased a new stake in General Motors in the fourth quarter worth $493,248,000. Arrowstreet Capital Limited Partnership lifted its stake in General Motors by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 22,349,234 shares of the auto manufacturer’s stock worth $819,770,000 after acquiring an additional 7,585,746 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in General Motors by 80.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock worth $538,747,000 after acquiring an additional 6,548,022 shares during the period. Finally, Franklin Resources Inc. raised its holdings in General Motors by 60.5% in the first quarter. Franklin Resources Inc. now owns 15,784,315 shares of the auto manufacturer’s stock worth $578,969,000 after purchasing an additional 5,948,464 shares in the last quarter. Hedge funds and other institutional investors own 79.62% of the company’s stock.
General Motors Stock Performance
The business has a fifty day simple moving average of $34.11 and a 200-day simple moving average of $35.02. The company has a quick ratio of 0.96, a current ratio of 1.15 and a debt-to-equity ratio of 1.08. The firm has a market cap of $42.69 billion, a P/E ratio of 4.33, a P/E/G ratio of 0.43 and a beta of 1.37.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The business had revenue of $44.75 billion during the quarter, compared to the consensus estimate of $42.13 billion. General Motors had a return on equity of 16.70% and a net margin of 6.05%. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. On average, sell-side analysts predict that General Motors will post 7.59 EPS for the current fiscal year.
General Motors Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Friday, September 1st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.36 annualized dividend and a dividend yield of 1.16%. General Motors’s payout ratio is presently 5.03%.
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.