General Motors Company (GM) Given “Buy” Rating at Citigroup Inc.
Citigroup Inc. reissued their buy rating on shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in a research note issued to investors on Monday morning. Citigroup Inc. currently has a $53.00 target price on the auto manufacturer’s stock.
Several other analysts have also recently issued reports on GM. Berenberg Bank set a $31.00 price target on shares of General Motors and gave the company a sell rating in a report on Monday, August 14th. Morgan Stanley reaffirmed an overweight rating and issued a $43.00 price target on shares of General Motors in a report on Wednesday, October 4th. Deutsche Bank AG reaffirmed a buy rating and issued a $51.00 price target on shares of General Motors in a report on Monday, October 2nd. Royal Bank Of Canada upped their price target on shares of General Motors from $38.00 to $44.00 and gave the company a sector perform rating in a report on Thursday, October 5th. Finally, Instinet reaffirmed a buy rating and issued a $43.00 price target on shares of General Motors in a report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $42.50.
General Motors (GM) opened at 45.42 on Monday. General Motors has a 52-week low of $30.21 and a 52-week high of $45.60. The stock has a market capitalization of $66.19 billion, a P/E ratio of 7.90 and a beta of 1.45. The company has a 50 day moving average of $39.65 and a 200-day moving average of $35.83.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.86 earnings per share. Equities research analysts anticipate that General Motors will post $6.14 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.39%. The ex-dividend date was Thursday, September 7th. General Motors’s payout ratio is currently 26.48%.
In related news, insider Karl-Thomas Neumann sold 234,274 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.77, for a total value of $8,145,706.98. Following the completion of the sale, the insider now owns 234,274 shares of the company’s stock, valued at $8,145,706.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patricia F. Russo acquired 10,000 shares of General Motors stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average cost of $34.73 per share, with a total value of $347,300.00. Following the acquisition, 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 852,901 shares of company stock valued at $32,378,733 in the last ninety days. Corporate insiders own 0.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Intrust Bank NA lifted its holdings in General Motors by 0.3% in the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after acquiring an additional 25 shares during the last quarter. IFC Holdings Incorporated FL lifted its holdings in General Motors by 0.3% in the 2nd quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock valued at $1,120,000 after acquiring an additional 88 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in General Motors by 1.8% in the 2nd quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock valued at $230,000 after acquiring an additional 115 shares during the last quarter. Alpha Windward LLC lifted its holdings in General Motors by 2.3% in the 2nd quarter. Alpha Windward LLC now owns 5,542 shares of the auto manufacturer’s stock valued at $194,000 after acquiring an additional 125 shares during the last quarter. Finally, Heritage Investors Management Corp lifted its holdings in General Motors by 0.3% in the 2nd quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock valued at $1,735,000 after acquiring an additional 130 shares during the last quarter. 72.22% of the stock is owned by institutional investors.
About General Motors
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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