General Motors (NYSE:GM) Trading Down 4.4% - What's Next?

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U shares fell 4.4% on Monday . The company traded as low as $47.22 and last traded at $47.42. 2,858,408 shares changed hands during trading, a decline of 78% from the average session volume of 13,200,919 shares. The stock had previously closed at $49.61.

Analysts Set New Price Targets

A number of research firms have recently commented on GM. TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They set a "buy" rating and a $105.00 price objective for the company. Barclays increased their price target on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Piper Sandler reaffirmed a "neutral" rating and set a $48.00 price objective (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. JPMorgan Chase & Co. lowered their price objective on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, The Goldman Sachs Group cut their target price on General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, General Motors presently has a consensus rating of "Hold" and an average target price of $54.56.

General Motors Trading Up 0.8%

The business has a 50-day moving average price of $46.80 and a two-hundred day moving average price of $49.43. The company has a market cap of $45.67 billion, a P/E ratio of 7.72, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.15. The firm had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.62 EPS. On average, analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. General Motors's dividend payout ratio (DPR) is presently 8.65%.

General Motors announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Trust Point Inc. boosted its holdings in General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock worth $386,000 after buying an additional 193 shares during the last quarter. Nemes Rush Group LLC boosted its stake in General Motors by 18.7% during the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock worth $73,000 after acquiring an additional 217 shares during the last quarter. ICONIQ Capital LLC grew its holdings in General Motors by 4.2% during the first quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer's stock valued at $256,000 after purchasing an additional 220 shares during the period. Operose Advisors LLC increased its stake in General Motors by 18.7% in the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock valued at $75,000 after purchasing an additional 223 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in General Motors by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after purchasing an additional 226 shares during the period. 92.67% of the stock is currently owned by institutional investors.

About General Motors

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.