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General Motors (NYSE:GM) Shares Gap Down - Here's What Happened

General Motors logo with Auto/Tires/Trucks background

General Motors Company (NYSE:GM - Get Free Report) TSE: GMM.U's share price gapped down before the market opened on Tuesday . The stock had previously closed at $53.21, but opened at $51.72. General Motors shares last traded at $49.23, with a volume of 8,289,243 shares.

Analyst Ratings Changes

GM has been the topic of a number of analyst reports. Benchmark began coverage on shares of General Motors in a report on Monday. They issued a "buy" rating and a $65.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a report on Friday, July 11th. Mizuho lifted their target price on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Citigroup started coverage on shares of General Motors in a research report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 target price on the stock. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $56.05.

View Our Latest Stock Analysis on GM

General Motors Stock Down 7.6%

The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. The company has a market capitalization of $47.25 billion, a PE ratio of 7.10, a P/E/G ratio of 1.42 and a beta of 1.32. The business has a 50-day moving average of $50.02 and a 200 day moving average of $48.69.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The business's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.06 EPS. Equities research analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. General Motors's payout ratio is 8.65%.

Institutional Investors Weigh In On General Motors

A number of hedge funds have recently added to or reduced their stakes in the company. Simplicity Wealth LLC acquired a new position in shares of General Motors during the 2nd quarter worth approximately $343,000. 111 Capital raised its position in shares of General Motors by 78.9% during the 2nd quarter. 111 Capital now owns 16,578 shares of the auto manufacturer's stock worth $816,000 after purchasing an additional 7,309 shares during the last quarter. Cromwell Holdings LLC raised its position in shares of General Motors by 7.7% during the 2nd quarter. Cromwell Holdings LLC now owns 3,591 shares of the auto manufacturer's stock worth $177,000 after purchasing an additional 256 shares during the last quarter. Hilltop National Bank acquired a new position in shares of General Motors during the 2nd quarter worth approximately $170,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of General Motors by 4.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 226,258 shares of the auto manufacturer's stock worth $11,134,000 after purchasing an additional 10,385 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

General Motors Company Profile

(Get Free Report)

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.

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