General Motors (NYSE:GM) Stock Price Down 4.4% - Time to Sell?

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

Analysts Set New Price Targets

A number of research firms recently commented on GM. BNP Paribas raised General Motors to a "strong-buy" rating in a report on Monday, May 5th. Piper Sandler reaffirmed a "neutral" rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Wedbush reduced their price objective on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. 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 on the stock. Finally, Mizuho upped their price objective on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $54.56.

General Motors Trading Down 2.7%

The business's 50-day simple moving average is $46.79 and its 200-day simple moving average is $49.49. The company has a market capitalization of $45.90 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

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

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be issued a $0.15 dividend. This is a boost from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, June 6th. General Motors's dividend payout ratio is currently 8.65%.

General Motors announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Hedge Funds Weigh In On General Motors

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in General Motors in the fourth quarter valued at $592,321,000. AQR Capital Management LLC grew its holdings in shares of General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock valued at $629,196,000 after buying an additional 8,012,743 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of General Motors by 6.9% in the first quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock worth $4,672,023,000 after purchasing an additional 6,395,375 shares during the last quarter. Nuveen LLC bought a new stake in General Motors in the 1st quarter worth about $175,889,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of General Motors by 305.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after purchasing an additional 2,154,037 shares during the period. Institutional investors own 92.67% of the company's stock.

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.