General Motors Co. (GM) Lifted to Overweight at Morgan Stanley
Morgan Stanley upgraded shares of General Motors Co. (NYSE:GM) from an equal weight rating to an overweight rating in a research report released on Monday. Morgan Stanley currently has $37.00 price target on the auto manufacturer’s stock, up from their prior price target of $29.00.
Other analysts also recently issued research reports about the stock. Vetr raised shares of General Motors from a buy rating to a strong-buy rating and set a $35.06 target price for the company in a research report on Monday, September 12th. Tigress Financial reissued a buy rating on shares of General Motors in a research report on Wednesday, June 22nd. Jefferies Group reissued a hold rating on shares of General Motors in a research report on Friday, September 2nd. Royal Bank Of Canada reissued a sector perform rating and set a $41.00 target price (down previously from $43.50) on shares of General Motors in a research report on Thursday, June 30th. Finally, Zacks Investment Research downgraded shares of General Motors from a hold rating to a sell rating in a research report on Tuesday, July 19th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. General Motors presently has a consensus rating of Hold and an average target price of $35.62.
Shares of General Motors (NYSE:GM) opened at 32.11 on Monday. The stock has a 50 day moving average of $31.47 and a 200-day moving average of $30.81. General Motors has a 12-month low of $26.69 and a 12-month high of $36.88. The firm has a market capitalization of $50.15 billion, a P/E ratio of 4.11 and a beta of 1.70.
General Motors (NYSE:GM) last released its quarterly earnings data on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.35. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The company earned $42.40 billion during the quarter, compared to the consensus estimate of $38.81 billion. During the same quarter in the prior year, the firm posted $1.29 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts predict that General Motors will post $5.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 9th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.73%. General Motors’s dividend payout ratio (DPR) is presently 19.46%.
In other General Motors news, Director Jane L. Mendillo bought 1,600 shares of General Motors stock in a transaction dated Tuesday, August 2nd. The shares were purchased at an average cost of $31.01 per share, with a total value of $49,616.00. Following the completion of the purchase, the director now owns 1,600 shares of the company’s stock, valued at $49,616. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas S. Timko sold 6,250 shares of the business’s stock in a transaction that occurred on 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 directly owns 27,477 shares in the company, valued at $877,615.38. The disclosure for this sale can be found here. Insiders own 0.04% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. AllSquare Wealth Management LLC boosted its position in General Motors by 16.5% in the second quarter. AllSquare Wealth Management LLC now owns 4,600 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 650 shares during the period. North Star Investment Management Corp. boosted its position in General Motors by 809.5% in the second quarter. North Star Investment Management Corp. now owns 4,602 shares of the auto manufacturer’s stock valued at $130,000 after buying an additional 4,096 shares during the period. Peapack Gladstone Financial Corp boosted its position in General Motors by 3.6% in the first quarter. Peapack Gladstone Financial Corp now owns 6,402 shares of the auto manufacturer’s stock valued at $201,000 after buying an additional 225 shares during the period. Mariner Wealth Advisors LLC boosted its position in General Motors by 0.3% in the first quarter. Mariner Wealth Advisors LLC now owns 6,550 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 20 shares during the period. Finally, FDx Advisors Inc. boosted its position in General Motors by 6.0% in the second quarter. FDx Advisors Inc. now owns 7,265 shares of the auto manufacturer’s stock valued at $206,000 after buying an additional 408 shares during the period. 70.40% of the stock is currently owned by hedge funds and other institutional investors.
General Motors Company Profile
General Motors Company (General Motors) designs, builds and sells cars, trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s four automotive segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO) and GM South America (GMSA).
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