SSgA Funds Management, Inc. recently announced the acquisition of new stake in General Motors Company (NYSE:GM). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.28% to 57.46 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 4.01% valued currently at $1.43 billion. In addition, Capital Research & Management Co.. raised its holdings by 9.43 million to 47.99 million shares. And Hotchkis & Wiley Capital Manageme.. has lifted its position by 2.39% or 0.47 million shares – to 20.04 million shares.
With over 9.55 million General Motors Company (GM) shares trading Monday and a closing price of $29.63 on the day, the dollar volume was approximately $283.03 million. The shares have shown a negative weekly performance of -2.24% and its price on 08/31/20 lost nearly -1.30%. Currently, there are 1.43B common shares owned by the public and among those 1.33B shares have been available to trade.
Incidentally, analysts’ outlook for the General Motors Company stock is 1.90 for the next 12 months.
Insiders at the company have transacted a total of 28 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 1,100,128 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 487,835 shares.
The top 3 mutual fund holders in General Motors Company are Vanguard Total Stock Market Index, Washington Mutual Investors Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 36.65 million shares of the company’s stock, all valued at over $912.29 million. The company sold 55428.0 shares recently to bring their total holdings to about 2.56% of the shares outstanding. Vanguard 500 Index Fund sold -0.16 million shares to bring its total holdings to over 25.97 million shares at a value of $646.42 million. Vanguard 500 Index Fund now owns shares totaling to 1.82% of the shares outstanding.
Shares of General Motors Company (NYSE: GM) opened at $30.02, unchanged from a prior closing price of $30.02. However, the script later closed the day at $29.63, down -1.30%. The company’s stock has a 5-day price change of -2.24% and 8.10% over the past three months. GM shares are trading -19.04% year to date (YTD), with the 12-month market performance down to -20.11% lower. It has a 12-month low price of $14.32 and touched a high of $39.78 over the same period. Currently, 9.55 million shares have been traded, compared to an average intraday trading volume of 14.52 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.57%, 10.94%, and 3.08% respectively.
Institutional ownership of General Motors Company (NYSE: GM) shares accounts for 79.30% of the company’s 1.43B shares outstanding. Mutual fund holders own 37.67%, while other institutional holders and individual stakeholders account for 41.55% and 15.02% respectively.
It has a market capitalization of $41.94B and a beta (3y monthly) value of 1.47. The stock’s trailing 12-month PE ratio is 28.22, while the earnings-per-share (ttm) stands at $1.05. The company has a PEG of 85.51 and a Quick Ratio of 1.00 with the debt-to-equity ratio at 3.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.61% over the week and 3.52% over the month.
Analysts forecast that General Motors Company (GM) will achieve an EPS of $1.26 for the current quarter, $1.08 for the next quarter and $4.38 for 2021. The lowest estimate earnings-per-share for the quarter is $0.7 while analysts give the company a high EPS estimate of $1.59. Comparatively, EPS for the current quarter was $1.72 a year ago. Earnings per share for the fiscal year are expected to decrease by -15.90%, and 84.86% over the next financial year. EPS should shrink at an annualized rate of 0.33% over the next five years, compared to 22.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate General Motors Company (GM) as a “Strong Buy” at a consensus score of 1.90. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 3 of the 18 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the GM, a number of firms have released research notes about the stock. Goldman stated their Buy rating for the stock in a research note on June 12, 2020, with the firm’s price target at. Deutsche Bank coverage for the General Motors Company (GM) stock in a research note released on May 07, 2020 offered a Buy rating with a price target of $30. Goldman was of a view on April 15, 2020 that the stock is Neutral, while Deutsche Bank gave the stock Hold rating on April 07, 2020, issuing a price target of $25. The Benchmark Company on their part issued Buy rating on January 09, 2020.