Vetr Lowers General Motors (NYSE:GM) to Sell

General Motors (NYSE:GM) (TSE:GMM.U) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, December 26th. They currently have a $40.10 price objective on the auto manufacturer’s stock. Vetr‘s price target indicates a potential downside of 9.01% from the stock’s current price.

Several other research firms have also commented on GM. Citigroup restated a “buy” rating and set a $53.00 price target on shares of General Motors in a research report on Monday, October 2nd. Piper Jaffray Companies set a $44.00 price target on General Motors and gave the stock a “buy” rating in a research report on Monday, October 16th. Deutsche Bank upgraded General Motors from a “hold” rating to a “buy” rating and raised their price target for the stock from $36.00 to $51.00 in a research report on Monday, September 25th. Instinet restated a “buy” rating and set a $43.00 price target on shares of General Motors in a research report on Tuesday, October 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $43.00 target price (up from $40.00) on shares of General Motors in a report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. General Motors presently has a consensus rating of “Hold” and a consensus target price of $44.29.

Shares of General Motors (GM) opened at $44.07 on Tuesday. The company has a market capitalization of $62,600.00, a P/E ratio of 9.54, a P/E/G ratio of 0.82 and a beta of 1.55. General Motors has a fifty-two week low of $31.92 and a fifty-two week high of $46.76. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.25. The company had revenue of $30.48 billion during the quarter, compared to analyst estimates of $29.93 billion. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The firm’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 earnings per share. research analysts forecast that General Motors will post 6.25 EPS for the current year.

In other news, insider Barry L. Engle II sold 50,443 shares of General Motors stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $43.08, for a total transaction of $2,173,084.44. Following the sale, the insider now owns 57,091 shares in the company, valued at $2,459,480.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas S. Timko sold 44,791 shares of General Motors stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $44.46, for a total value of $1,991,407.86. Following the sale, the chief accounting officer now owns 66,838 shares in the company, valued at approximately $2,971,617.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 552,298 shares of company stock worth $24,408,137. 0.04% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of GM. Berkshire Hathaway Inc. increased its position in General Motors by 20.0% in 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 acquiring an additional 10,000,000 shares during the period. Janus Henderson Group PLC increased its position in General Motors by 290.9% in the 2nd quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock valued at $357,944,000 after acquiring an additional 7,625,809 shares during the period. Assenagon Asset Management S.A. acquired a new position in General Motors in the 3rd quarter valued at about $202,352,000. Vanguard Group Inc. increased its position in General Motors by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after acquiring an additional 3,560,717 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in General Motors by 72.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,210,479 shares of the auto manufacturer’s stock valued at $147,072,000 after acquiring an additional 1,775,924 shares during the period. Hedge funds and other institutional investors own 73.01% of the company’s stock.

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General Motors Company Profile

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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