Investors Sell Shares of General Motors (GM) on Strength (GM)
Investors sold shares of General Motors (NYSE:GM) (TSE:GMM.U) on strength during trading on Tuesday. $125.99 million flowed into the stock on the tick-up and $162.48 million flowed out of the stock on the tick-down, for a money net flow of $36.49 million out of the stock. Of all companies tracked, General Motors had the 28th highest net out-flow for the day. General Motors traded up $0.12 for the day and closed at $44.19
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. Barclays restated a “buy” rating and set a $61.00 price objective on shares of General Motors in a research report on Tuesday, January 9th. Vetr cut shares of General Motors from a “hold” rating to a “sell” rating and set a $40.10 price objective on the stock. in a research report on Monday, January 1st. Evercore ISI raised their price objective on shares of General Motors from $40.00 to $41.38 in a research report on Friday, December 29th. Finally, Royal Bank of Canada upgraded shares of General Motors from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $51.00 to $52.00 in a research report on Tuesday, December 19th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $44.07.
The company has a market capitalization of $62,770.00, a PE ratio of 9.56, a P/E/G ratio of 0.81 and a beta of 1.55. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Friday, December 8th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Thursday, December 7th. General Motors’s payout ratio is 32.90%.
In other General Motors news, insider Barry L. Engle II sold 50,443 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $43.08, for a total value of $2,173,084.44. Following the transaction, the insider now owns 57,091 shares in the company, valued at $2,459,480.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas S. Timko sold 44,791 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the completion of the transaction, the chief accounting officer now owns 66,838 shares in the company, valued at approximately $2,971,617.48. The disclosure for this sale can be found here. Insiders sold 552,298 shares of company stock worth $24,408,137 in the last 90 days. Corporate insiders own 0.04% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in GM. YorkBridge Wealth Partners LLC increased its position in shares of General Motors by 43.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after acquiring an additional 860 shares during the period. Fieldpoint Private Securities LLC purchased a new position in shares of General Motors in the third quarter valued at about $119,000. Ropes Wealth Advisors LLC increased its position in shares of General Motors by 240.2% in the second quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock valued at $161,000 after acquiring an additional 3,248 shares during the period. Fayez Sarofim & Co. purchased a new position in shares of General Motors in the third quarter valued at about $202,000. Finally, Capital Investment Advisory Services LLC purchased a new position in shares of General Motors in the third quarter valued at about $203,000. Hedge funds and other institutional investors own 73.02% of the company’s stock.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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