General Motors Co. (GM) Stock Rating Lowered by Vetr Inc.
General Motors Co. (NYSE:GM) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They presently have a $35.44 price target on the auto manufacturer’s stock. Vetr‘s price target indicates a potential upside of 11.97% from the company’s previous close.
A number of other equities analysts have also issued reports on the company. Morgan Stanley upgraded General Motors from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $29.00 to $37.00 in a research note on Monday. Royal Bank Of Canada restated a “sector perform” rating and issued a $41.00 target price (down previously from $43.50) on shares of General Motors in a research note on Thursday, June 30th. Argus restated a “hold” rating on shares of General Motors in a research note on Thursday, July 28th. Goldman Sachs Group Inc. set a $36.00 target price on General Motors and gave the stock a “neutral” rating in a research note on Thursday, July 7th. Finally, Jefferies Group initiated coverage on General Motors in a research note on Tuesday, August 9th. They issued a “hold” rating and a $33.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $35.62.
General Motors (NYSE:GM) opened at 31.65 on Monday. The stock has a 50 day moving average price of $31.40 and a 200 day moving average price of $30.80. The stock has a market capitalization of $49.43 billion, a P/E ratio of 4.05 and a beta of 1.70. General Motors has a 12 month low of $26.69 and a 12 month high of $36.88.
General Motors (NYSE:GM) last issued its quarterly earnings data on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, beating the 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 firm earned $42.40 billion during the quarter, compared to analyst estimates of $38.81 billion. During the same quarter in the prior year, the business posted $1.29 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts predict that General Motors will post $5.84 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Wednesday, September 7th. General Motors’s dividend payout ratio (DPR) is 19.46%.
In other General Motors news, Director Jane L. Mendillo bought 1,600 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were acquired at an average cost of $31.01 per share, with a total value of $49,616.00. Following the purchase, the director now directly owns 1,600 shares of the company’s stock, valued at approximately $49,616. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas S. Timko sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the completion of 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. 0.04% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Williams Jones & Associates LLC raised its position in General Motors by 5.0% in the second quarter. Williams Jones & Associates LLC now owns 43,131 shares of the auto manufacturer’s stock worth $1,221,000 after buying an additional 2,052 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in General Motors during the second quarter worth $1,601,000. Kentucky Retirement Systems acquired a new position in General Motors during the second quarter worth $3,372,000. KAMES CAPITAL plc acquired a new position in General Motors during the second quarter worth $17,743,000. Finally, Mason Street Advisors LLC acquired a new position in General Motors during the second quarter worth $5,341,000. 70.40% of the stock is currently owned by institutional investors and hedge funds.
About General Motors
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).
To view Vetr’s full report, visit Vetr’s official website.
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