General Motors (NYSE:GM) Short Interest Update

General Motors (NYSE:GM) (TSE:GMM.U) saw a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 30,670,000 shares, a drop of 10.1% from the September 15th total of 34,110,000 shares. Based on an average daily trading volume, of 13,950,000 shares, the short-interest ratio is currently 2.2 days. Currently, 2.7% of the shares of the company are short sold.

Analysts Set New Price Targets

Several research firms have weighed in on GM. Wolfe Research began coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Royal Bank of Canada restated 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 boosted their price objective on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their price target on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Finally, Barclays boosted their price objective on shares of General Motors from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus price target of $55.35.

General Motors Stock Up 0.8 %

NYSE GM traded up $0.37 during mid-day trading on Thursday, hitting $49.38. The company’s stock had a trading volume of 8,051,721 shares, compared to its average volume of 15,089,480. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The company’s 50 day simple moving average is $46.76 and its 200 day simple moving average is $45.87. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The firm has a market capitalization of $56.34 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $45.13 billion. During the same quarter last year, the company earned $1.91 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given 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 0.97%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity

In related news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired 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 represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction that occurred 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 directly owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. 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

Several institutional investors have recently modified their holdings of the business. ACR Alpine Capital Research LLC increased its holdings in General Motors by 8.4% during the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after buying an additional 492,693 shares during the last quarter. BDF Gestion bought a new stake in shares of General Motors in the 2nd quarter worth approximately $2,886,000. Atomi Financial Group Inc. purchased a new position in General Motors in the first quarter valued at approximately $244,000. Cetera Investment Advisers grew its holdings in General Motors by 98.5% during the first quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock valued at $14,993,000 after purchasing an additional 164,083 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new stake in General Motors in the fourth quarter worth $680,000. 92.67% of the stock is owned by 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.