General Motors Company (GM) Price Target Increased to $44.00 by Analysts at Royal Bank Of Canada
General Motors Company (NYSE:GM) (TSE:GMM.U) had its target price lifted by Royal Bank Of Canada from $38.00 to $44.00 in a research note published on Thursday morning. Royal Bank Of Canada currently has a sector perform rating on the auto manufacturer’s stock.
GM has been the topic of several other research reports. Piper Jaffray Companies reiterated a buy rating and issued a $44.00 price target on shares of General Motors in a report on Tuesday, September 12th. Buckingham Research reiterated a neutral rating and issued a $33.00 price target on shares of General Motors in a report on Friday, September 8th. Instinet reiterated a buy rating and issued a $43.00 price target on shares of General Motors in a report on Tuesday. Bank of America Corporation upgraded General Motors from a neutral rating to a buy rating and increased their price target for the stock from $40.00 to $57.00 in a report on Tuesday. Finally, Morgan Stanley reiterated an overweight rating and issued a $43.00 price target on shares of General Motors in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the company’s stock. General Motors has an average rating of Buy and a consensus target price of $40.79.
Shares of General Motors (NYSE GM) traded up 2.46% during mid-day trading on Thursday, reaching $44.93. The company had a trading volume of 21,024,603 shares. The firm’s 50-day moving average price is $38.21 and its 200 day moving average price is $35.46. General Motors has a 52-week low of $30.21 and a 52-week high of $45.17. The company has a market cap of $65.47 billion, a price-to-earnings ratio of 7.81 and a beta of 1.45.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The business had revenue of $36.98 billion during the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter last year, the firm posted $1.86 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. Equities analysts expect that General Motors will post $6.13 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Thursday, September 7th. General Motors’s payout ratio is 26.48%.
In other General Motors news, EVP Craig B. Glidden sold 192,954 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 214,171 shares of the company’s stock, valued at $8,918,080.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alicia S. Boler-Davis sold 10,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $40.90, for a total value of $409,000.00. The disclosure for this sale can be found here. Insiders sold 842,901 shares of company stock valued at $31,928,733 over the last three months. Company insiders own 0.04% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Berkshire Hathaway Inc. grew 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 valued at $2,095,800,000 after purchasing an additional 10,000,000 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of General Motors by 290.9% in the second quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock valued at $357,944,000 after purchasing an additional 7,625,809 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of General Motors by 26,374.8% in the first quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after purchasing an additional 3,955,426 shares in the last quarter. Vanguard Group Inc. grew 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 valued at $3,262,952,000 after purchasing an additional 3,560,717 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in shares of General Motors by 129.2% in the first quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after purchasing an additional 3,420,200 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.
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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