Vetr cut shares of General Motors (NYSE:GM) (TSE:GMM.U) from a strong-buy rating to a buy rating in a research note released on Thursday morning. The brokerage currently has $41.50 price objective on the auto manufacturer’s stock.
Other equities analysts also recently issued reports about the company. Evercore ISI upped their price target on General Motors from $40.00 to $41.38 in a research report on Friday, December 29th. Barclays reaffirmed a buy rating and set a $61.00 price target on shares of General Motors in a research report on Tuesday, January 9th. Bank of America upped their price target on General Motors from $57.00 to $60.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Royal Bank of Canada set a $52.00 target price on General Motors and gave the company a buy rating in a research report on Tuesday, February 6th. Finally, Zacks Investment Research raised General Motors from a hold rating to a buy rating and set a $46.00 target price on the stock in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $44.65.
Shares of GM stock opened at $37.68 on Thursday. The firm has a market cap of $52,866.66, a PE ratio of 5.69, a price-to-earnings-growth ratio of 0.72 and a beta of 1.63. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.76 and a current ratio of 0.89. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.31. The business had revenue of $34.48 billion for 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 business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 earnings per share. analysts predict that General Motors will post 6.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Thursday, March 8th. General Motors’s dividend payout ratio is currently 22.96%.
In other news, CAO Thomas S. Timko sold 8,461 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $42.06, for a total transaction of $355,869.66. Following the sale, the chief accounting officer now directly owns 33,519 shares of the company’s stock, valued at approximately $1,409,809.14. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $45.00, for a total transaction of $2,269,935.00. Following the sale, the insider now directly owns 57,091 shares in the company, valued at $2,569,095. The disclosure for this sale can be found here. Insiders have sold a total of 40,294,848 shares of company stock worth $1,600,664,861 over the last ninety days. 0.04% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Advent Capital Management DE boosted its stake in shares of General Motors by 30.6% during the 4th quarter. Advent Capital Management DE now owns 198,541 shares of the auto manufacturer’s stock worth $8,138,000 after acquiring an additional 46,541 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of General Motors by 181.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,809,371 shares of the auto manufacturer’s stock worth $73,062,000 after acquiring an additional 1,166,696 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of General Motors by 2.3% during 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of General Motors by 154.4% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,923,200 shares of the auto manufacturer’s stock worth $242,792,000 after acquiring an additional 3,594,700 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of General Motors during the 3rd quarter worth about $701,000. 73.55% of the stock is currently owned by institutional investors and hedge funds.
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General Motors Company Profile
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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