General Motors (NYSE:GM) Shares Gap Up on Earnings Beat

Shares of General Motors (NYSE:GM - Get Free Report) TSE: GMM.U gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $43.21, but opened at $45.89. General Motors shares last traded at $45.30, with a volume of 8,988,857 shares traded.

The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the business earned $2.21 EPS. General Motors's revenue was up 7.6% compared to the same quarter last year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. General Motors's dividend payout ratio is presently 6.57%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GM shares. Piper Sandler started coverage on General Motors in a report on Friday, March 15th. They set a "neutral" rating and a $44.00 target price on the stock. Morgan Stanley upped their target price on General Motors from $43.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, April 10th. The Goldman Sachs Group upped their target price on General Motors from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, January 31st. Mizuho upped their target price on General Motors from $44.00 to $48.00 and gave the stock a "buy" rating in a report on Monday, March 25th. Finally, Wolfe Research upgraded General Motors from a "peer perform" rating to an "outperform" rating and set a $42.00 target price on the stock in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.52.

Insider Activity at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares of the company's stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Julian G. Blissett sold 13,826 shares of the firm's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gerald Johnson sold 15,190 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the completion of the transaction, the executive vice president now owns 98,628 shares in the company, valued at $3,948,078.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Motors

A number of institutional investors and hedge funds have recently modified their holdings of the company. Unison Advisors LLC boosted its stake in shares of General Motors by 0.4% in the 1st quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer's stock worth $3,047,000 after buying an additional 246 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of General Motors by 5.2% in the 1st quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer's stock worth $230,000 after buying an additional 248 shares during the last quarter. FinTrust Capital Advisors LLC boosted its stake in shares of General Motors by 2.5% in the 4th quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer's stock worth $399,000 after buying an additional 268 shares during the last quarter. Summit Financial LLC boosted its stake in shares of General Motors by 4.3% in the 4th quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer's stock worth $239,000 after buying an additional 273 shares during the last quarter. Finally, Sutton Place Investors LLC lifted its position in General Motors by 1.7% during the first quarter. Sutton Place Investors LLC now owns 17,236 shares of the auto manufacturer's stock valued at $782,000 after purchasing an additional 280 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Up 4.4 %

The company has a market capitalization of $52.06 billion, a PE ratio of 6.17, a P/E/G ratio of 0.50 and a beta of 1.51. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. The company has a 50-day moving average of $41.86 and a two-hundred day moving average of $36.06.

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.