General Motors Company (GM) Earns Buy Rating from Deutsche Bank AG
Deutsche Bank AG restated their buy rating on shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in a research note released on Monday morning. The firm currently has a $51.00 price objective on the auto manufacturer’s stock.
Several other analysts also recently weighed in on the company. BidaskClub raised General Motors from a buy rating to a strong-buy rating in a research note on Wednesday, July 19th. ValuEngine raised General Motors from a buy rating to a strong-buy rating in a research note on Friday, July 28th. Piper Jaffray Companies reaffirmed a buy rating and set a $44.00 target price on shares of General Motors in a research note on Tuesday, September 12th. Royal Bank Of Canada reaffirmed a hold rating and set a $37.00 target price on shares of General Motors in a research note on Friday, July 14th. Finally, Vetr downgraded General Motors from a buy rating to a hold rating and set a $37.42 target price on the stock. in a research note on Monday, July 17th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $40.79.
Shares of General Motors (GM) opened at 43.99 on Monday. The stock’s 50 day moving average price is $37.98 and its 200 day moving average price is $35.40. General Motors has a 1-year low of $30.21 and a 1-year high of $44.08. The stock has a market cap of $64.10 billion, a PE ratio of 7.65 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.86 EPS. On average, equities research analysts anticipate that General Motors will post $6.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.47%. General Motors’s dividend payout ratio (DPR) is currently 26.48%.
In other General Motors news, EVP Craig B. Glidden sold 192,954 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $41.64, for a total value of $8,034,604.56. Following the transaction, the executive vice president now owns 214,171 shares in the company, valued at $8,918,080.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia F. Russo bought 10,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was purchased at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the purchase, the director now directly owns 12,300 shares of the company’s stock, valued at $427,179. The disclosure for this purchase can be found here. Insiders sold 842,901 shares of company stock worth $31,928,733 in the last 90 days. Corporate insiders own 0.04% of the company’s stock.
Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of General Motors by 4.0% in the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock worth $3,262,952,000 after buying an additional 3,560,717 shares during the last quarter. BlackRock Inc. lifted its position in shares of General Motors by 1.1% in the second quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock worth $2,750,849,000 after buying an additional 850,211 shares during the last quarter. State Street Corp lifted its position in shares of General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock worth $2,136,563,000 after buying an additional 2,252,866 shares during the last quarter. Berkshire Hathaway Inc. lifted its position in shares of General Motors by 20.0% in the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after buying an additional 10,000,000 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of General Motors by 5.0% in the second quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock worth $1,094,259,000 after buying an additional 1,500,500 shares during the last quarter. 72.21% of the stock is owned by institutional investors.
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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