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

General Motors (NYSE:GM) (TSE:GMM.U) shares gapped up prior to trading on Tuesday following a better than expected earnings announcement. 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 EPS for the quarter, topping 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 firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year.

General Motors Dividend Announcement

The company also recently announced 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 6.57%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GM. Redburn Atlantic began coverage on General Motors in a report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price target for the company. The Goldman Sachs Group boosted their price target on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Wolfe Research raised General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Thursday, January 4th. Mizuho boosted their price target on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday. Finally, TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.35.

Insider Transactions at General Motors

In related news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares in the company, valued at approximately $540,315. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Motors

A number of hedge funds have recently bought and sold shares of the stock. Arkadios Wealth Advisors purchased a new position in shares of General Motors in the 3rd quarter valued at about $249,000. Impact Partnership Wealth LLC grew its stake in General Motors by 53.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,649 shares of the auto manufacturer’s stock worth $54,000 after buying an additional 577 shares during the last quarter. Founders Financial Securities LLC grew its stake in General Motors by 6.6% during the 3rd quarter. Founders Financial Securities LLC now owns 14,472 shares of the auto manufacturer’s stock worth $477,000 after buying an additional 890 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in General Motors by 11,739.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 212,631 shares of the auto manufacturer’s stock worth $7,010,000 after buying an additional 210,835 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in General Motors during the 3rd quarter worth approximately $122,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Down 0.1 %

The business has a 50 day moving average of $42.00 and a 200-day moving average of $36.12. The stock has a market cap of $52.03 billion, a PE ratio of 6.17, a P/E/G ratio of 0.51 and a beta of 1.51. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21.

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.