Vetr upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a hold rating to a strong-buy rating in a report issued on Friday. The brokerage currently has $39.06 target price on the auto manufacturer’s stock.
GM has been the subject of a number of other research reports. UBS reissued a buy rating and issued a $50.00 price target (up previously from $39.00) on shares of General Motors in a report on Wednesday, October 11th. Buckingham Research reissued a hold rating on shares of General Motors in a report on Thursday, August 24th. Craig Hallum set a $45.00 target price on General Motors and gave the stock a hold rating in a report on Wednesday, October 25th. Piper Jaffray Companies set a $51.00 target price on General Motors and gave the stock a buy rating in a report on Tuesday, October 24th. Finally, Royal Bank Of Canada increased their target price on General Motors from $44.00 to $51.00 and gave the stock a sector perform rating in a report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. General Motors has a consensus rating of Hold and an average price target of $43.70.
General Motors (GM) opened at $43.05 on Friday. The company has a market capitalization of $61,150.00, a PE ratio of 6.91, a P/E/G ratio of 0.74 and a beta of 1.54. General Motors has a 1-year low of $31.92 and a 1-year high of $46.76. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.25. The firm had revenue of $30.48 billion during the quarter, compared to the consensus estimate of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. General Motors’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.72 earnings per share. equities analysts forecast that General Motors will post 6.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s payout ratio is 32.90%.
In other news, CFO Charles K. Stevens III sold 265,458 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $44.49, for a total transaction of $11,810,226.42. Following the sale, the chief financial officer now directly owns 326,510 shares in the company, valued at approximately $14,526,429.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alan S. Batey sold 234,274 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total value of $8,911,782.96. Following the completion of the sale, the insider now owns 67,548 shares in the company, valued at $2,569,525.92. The disclosure for this sale can be found here. Insiders have sold a total of 971,122 shares of company stock worth $40,627,952 over the last quarter. Insiders own 0.04% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GM. Berkshire Hathaway Inc. boosted its stake in General Motors by 20.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares in the last quarter. Swiss National Bank boosted its stake in General Motors by 1.2% during the 2nd quarter. Swiss National Bank now owns 4,925,857 shares of the auto manufacturer’s stock valued at $172,060,000 after purchasing an additional 56,500 shares in the last quarter. State of Tennessee Treasury Department boosted its stake in General Motors by 0.4% during the 2nd quarter. State of Tennessee Treasury Department now owns 825,599 shares of the auto manufacturer’s stock valued at $28,839,000 after purchasing an additional 3,298 shares in the last quarter. Intrust Bank NA boosted its stake in General Motors by 0.3% during the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after purchasing an additional 25 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in General Motors by 12.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 739,220 shares of the auto manufacturer’s stock valued at $25,819,000 after purchasing an additional 82,201 shares in the last quarter. Hedge funds and other institutional investors own 73.06% of the company’s stock.
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About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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