Vetr cut shares of General Motors Co. (NYSE:GM) from a buy rating to a hold rating in a research report sent to investors on Monday. The brokerage currently has $33.66 price target on the auto manufacturer’s stock.
Several other analysts have also recently weighed in on the company. Barclays PLC reaffirmed an equal weight rating and set a $66.00 price objective on shares of General Motors in a research report on Friday, September 23rd. Citigroup Inc. reaffirmed a buy rating and set a $50.00 price objective on shares of General Motors in a research report on Thursday, September 22nd. Nomura assumed coverage on General Motors in a research report on Tuesday, September 20th. They set a neutral rating and a $33.00 price objective on the stock. Morgan Stanley raised General Motors from an equal weight rating to an overweight rating and lifted their price objective for the company from $29.00 to $37.00 in a research report on Monday, September 19th. Finally, Jefferies Group reaffirmed a hold rating on shares of General Motors in a research report on Friday, September 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $37.03.
General Motors (NYSE:GM) opened at 31.90 on Monday. The stock has a 50 day moving average price of $31.65 and a 200 day moving average price of $30.84. The company has a market capitalization of $49.83 billion, a price-to-earnings ratio of 4.09 and a beta of 1.70. General Motors has a 12-month low of $26.69 and a 12-month high of $36.88.
General Motors (NYSE:GM) last posted its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.35. The company had revenue of $42.40 billion for the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. General Motors’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share. On average, analysts expect that General Motors will post $5.83 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Wednesday, September 7th. General Motors’s payout ratio is 19.46%.
In other news, Director Jane L. Mendillo bought 1,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was bought at an average price of $31.01 per share, with a total value of $49,616.00. Following the acquisition, the director now owns 1,600 shares of the company’s stock, valued at approximately $49,616. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the completion of the transaction, the vice president now directly owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The disclosure for this sale can be found here. Insiders own 0.04% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. North Star Investment Management Corp. increased its position in shares of General Motors by 809.5% in the second quarter. North Star Investment Management Corp. now owns 4,602 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 4,096 shares in the last quarter. AllSquare Wealth Management LLC increased its position in shares of General Motors by 16.5% in the second quarter. AllSquare Wealth Management LLC now owns 4,600 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 650 shares in the last quarter. Chou Associates Management Inc. purchased a new position in shares of General Motors during the second quarter valued at $136,000. Peapack Gladstone Financial Corp increased its position in shares of General Motors by 3.6% in the first quarter. Peapack Gladstone Financial Corp now owns 6,402 shares of the auto manufacturer’s stock valued at $201,000 after buying an additional 225 shares in the last quarter. Finally, Mariner Wealth Advisors LLC increased its position in shares of General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 20 shares in the last quarter. 70.40% of the stock is owned by institutional investors.
About General Motors
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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