General Motors (NYSE:GM) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

General Motors (NYSE:GM) (TSE:GMM.U) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $49.20 and traded as high as $54.10. General Motors shares last traded at $53.66, with a volume of 7,245,985 shares.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GM. Wolfe Research began coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein upped their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research report on Wednesday, December 11th. Mizuho raised their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Three 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus price target of $58.70.

General Motors Trading Down 0.7 %

The stock has a market capitalization of $58.58 billion, a PE ratio of 5.68, a PEG ratio of 0.39 and a beta of 1.42. The stock’s 50 day moving average price is $53.96 and its 200-day moving average price is $49.25. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the firm earned $2.28 earnings per share. The business’s quarterly revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts expect that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,030,475 shares of company stock valued at $56,509,286. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Chicago Partners Investment Group LLC boosted its position in General Motors by 15.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock valued at $510,000 after buying an additional 1,559 shares during the period. Donald Smith & CO. Inc. boosted its holdings in shares of General Motors by 12.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock valued at $73,070,000 after purchasing an additional 175,860 shares during the period. Foster & Motley Inc. grew its stake in General Motors by 121.5% in the third quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock worth $2,115,000 after purchasing an additional 25,869 shares in the last quarter. Stoneridge Investment Partners LLC increased its holdings in General Motors by 115.1% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 178,443 shares of the auto manufacturer’s stock worth $8,001,000 after purchasing an additional 95,484 shares during the period. Finally, Olstein Capital Management L.P. increased its stake in shares of General Motors by 14.9% during the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock valued at $7,264,000 after buying an additional 21,000 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.