General Motors (GM) Rating Lowered to Buy at Vetr

Vetr downgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a strong-buy rating to a buy rating in a research report report published on Thursday morning. The brokerage currently has $41.50 target price on the auto manufacturer’s stock.

Several other analysts also recently commented on the company. Zacks Investment Research downgraded General Motors from a hold rating to a sell rating in a research note on Tuesday, January 2nd. Barclays reaffirmed a buy rating and set a $61.00 price objective on shares of General Motors in a research note on Tuesday, January 9th. Royal Bank of Canada raised General Motors from a sector perform rating to an outperform rating and upped their price objective for the company from $51.00 to $52.00 in a research note on Tuesday, December 19th. Goldman Sachs set a $33.00 price objective on General Motors and gave the company a sell rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $45.00 price objective (up from $44.00) on shares of General Motors in a research note on Wednesday, March 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $44.65.

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Shares of NYSE GM opened at $37.68 on Thursday. The stock has a market capitalization of $52,866.66, a P/E ratio of 5.69, a PEG ratio of 0.72 and a beta of 1.63. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.86. General Motors has a 52-week low of $31.92 and a 52-week high of $46.76.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.31. The firm had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $34.28 billion. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.28 EPS. research analysts forecast that General Motors will post 6.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Stockholders of record on Friday, March 9th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, March 8th. General Motors’s dividend payout ratio (DPR) is 22.96%.

In related news, insider Charles K. Stevens III sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $36.10, for a total value of $1,263,500.00. Following the sale, the insider now owns 67,741 shares in the company, valued at approximately $2,445,450.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Thomas S. Timko sold 8,461 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $42.06, for a total value of $355,869.66. Following the completion of the sale, the chief accounting officer now owns 33,519 shares in the company, valued at approximately $1,409,809.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,294,848 shares of company stock valued at $1,600,664,861. Company insiders own 0.04% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in shares of General Motors by 26.7% in the 4th quarter. Franklin Resources Inc. now owns 21,868,641 shares of the auto manufacturer’s stock worth $896,398,000 after acquiring an additional 4,611,023 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of General Motors by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock worth $601,683,000 after acquiring an additional 331,621 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of General Motors by 1.0% in the 4th quarter. Bank of New York Mellon Corp now owns 11,020,001 shares of the auto manufacturer’s stock worth $451,709,000 after acquiring an additional 110,658 shares during the period. Janus Henderson Group PLC grew its holdings in shares of General Motors by 5.5% in the 3rd quarter. Janus Henderson Group PLC now owns 10,815,151 shares of the auto manufacturer’s stock worth $436,729,000 after acquiring an additional 567,980 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of General Motors by 78.1% in the 4th quarter. Millennium Management LLC now owns 6,810,691 shares of the auto manufacturer’s stock worth $279,170,000 after acquiring an additional 2,986,293 shares during the period. Institutional investors and hedge funds own 73.55% of the company’s stock.

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About General Motors

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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