Goldman Sachs Group Inc. lowered shares of General Motors Co. (NYSE:GM) to a neutral rating in a research note published on Thursday morning. They currently have $29.00 price objective on the auto manufacturer’s stock.
A number of other research firms have also recently commented on GM. Citigroup Inc. reiterated a buy rating and issued a $50.00 target price on shares of General Motors in a research note on Thursday, September 22nd. Vetr cut shares of General Motors from a buy rating to a hold rating and set a $33.44 price objective for the company. in a research note on Tuesday. RBC Capital Markets restated a sector perform rating and set a $34.00 price objective (up from $32.00) on shares of General Motors in a research note on Sunday, July 24th. JPMorgan Chase & Co. restated a buy rating and set a $43.00 price objective on shares of General Motors in a research note on Tuesday, July 26th. Finally, Barclays PLC restated an equal weight rating and set a $66.00 price objective on shares of General Motors in a research note on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $36.67.
General Motors (NYSE:GM) traded down 1.368% on Thursday, reaching $32.085. The company had a trading volume of 3,176,924 shares. General Motors has a one year low of $26.69 and a one year high of $36.88. The stock has a market cap of $50.11 billion, a price-to-earnings ratio of 4.109 and a beta of 1.65. The company has a 50-day moving average of $31.73 and a 200 day moving average of $30.87.
General Motors (NYSE:GM) last released its earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.35. The company earned $42.40 billion during the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a net margin of 7.90% and a return on equity of 23.96%. General Motors’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. On average, equities research analysts predict that General Motors will post $5.83 EPS for the current year.
The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.67%. General Motors’s payout ratio is 19.46%.
In other General Motors news, VP Thomas S. Timko sold 6,250 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total value of $199,625.00. Following the transaction, the vice president now owns 27,477 shares of the company’s stock, valued at $877,615.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jane L. Mendillo bought 1,600 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was bought at an average cost of $31.01 per share, for a total transaction of $49,616.00. Following the transaction, the director now directly owns 1,600 shares of the company’s stock, valued at $49,616. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of GM. Atalanta Sosnoff Capital LLC boosted its position in General Motors by 62.4% in the third quarter. Atalanta Sosnoff Capital LLC now owns 143,596 shares of the auto manufacturer’s stock worth $4,562,000 after buying an additional 55,163 shares during the last quarter. Foundry Partners LLC boosted its position in General Motors by 9.2% in the third quarter. Foundry Partners LLC now owns 492,090 shares of the auto manufacturer’s stock worth $15,634,000 after buying an additional 41,550 shares during the last quarter. McQueen Ball & Associates Inc. boosted its position in General Motors by 1.5% in the third quarter. McQueen Ball & Associates Inc. now owns 41,734 shares of the auto manufacturer’s stock worth $1,326,000 after buying an additional 599 shares during the last quarter. Summit Financial Wealth Advisors LLC boosted its position in General Motors by 17.9% in the third quarter. Summit Financial Wealth Advisors LLC now owns 20,536 shares of the auto manufacturer’s stock worth $652,000 after buying an additional 3,120 shares during the last quarter. Finally, New England Research & Management Inc. bought a new position in General Motors during the third quarter worth approximately $340,000. 70.40% of the stock is currently owned by institutional investors.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
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