General Motors (NYSE:GM) Shares Gap Down – What’s Next?

General Motors (NYSE:GM) (TSE:GMM.U) gapped down prior to trading on Tuesday . The stock had previously closed at $54.92, but opened at $50.98. General Motors shares last traded at $50.39, with a volume of 8,907,675 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GM. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and upped their price target for the company from $56.00 to $60.00 in a report on Tuesday, January 21st. Mizuho upped their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Friday, October 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, General Motors currently has a consensus rating of “Hold” and an average price target of $61.17.

General Motors Price Performance

The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a 50-day moving average of $53.14 and a 200-day moving average of $49.95. The stock has a market cap of $55.35 billion, a PE ratio of 5.35, a PEG ratio of 0.38 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 16.30% and a net margin of 6.06%. Research analysts predict that General Motors will post 10.34 EPS for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.95%. General Motors’s dividend payout ratio is currently 5.12%.

Insider Buying and Selling

In other General Motors 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 transaction of $535,229.19. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. This represents a 75.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 514,344 shares of company stock worth $28,977,691. 0.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Motors

Institutional investors have recently modified their holdings of the stock. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of General Motors by 972.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after acquiring an additional 1,906,964 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of General Motors by 123.1% during the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after acquiring an additional 1,779,897 shares during the last quarter. Artemis Investment Management LLP lifted its stake in shares of General Motors by 581.4% during the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after acquiring an additional 1,366,768 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of General Motors by 158.8% during the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after acquiring an additional 1,332,450 shares during the last quarter. Finally, Ninety One UK Ltd lifted its stake in shares of General Motors by 38.7% during the 4th quarter. Ninety One UK Ltd now owns 4,089,633 shares of the auto manufacturer’s stock worth $217,855,000 after acquiring an additional 1,140,569 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

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.