General Motors Company (GM) Receives Overweight Rating from Morgan Stanley
Morgan Stanley reiterated their overweight rating on shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in a research report released on Thursday. They currently have a $43.00 price target on the auto manufacturer’s stock, up from their previous price target of $40.00.
Several other equities research analysts have also recently commented on GM. Standpoint Research cut General Motors from a buy rating to a hold rating in a research report on Thursday, September 14th. Piper Jaffray Companies reissued a buy rating and issued a $44.00 target price on shares of General Motors in a research report on Tuesday, September 12th. Buckingham Research reissued a neutral rating and issued a $33.00 target price on shares of General Motors in a research report on Friday, September 8th. BidaskClub raised General Motors from a buy rating to a strong-buy rating in a research report on Wednesday, July 19th. Finally, Vetr cut General Motors from a buy rating to a hold rating and set a $37.42 target price on the stock. in a research report on Monday, July 17th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $39.11.
General Motors (NYSE:GM) traded up 0.74% during mid-day trading on Thursday, hitting $39.39. 6,022,460 shares of the stock traded hands. General Motors has a 1-year low of $30.21 and a 1-year high of $39.54. The firm has a market capitalization of $57.40 billion, a P/E ratio of 6.85 and a beta of 1.44. The company has a 50-day moving average of $36.19 and a 200 day moving average of $35.09.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.86 earnings per share. On average, equities research analysts anticipate that General Motors will post $6.13 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 3.86%. General Motors’s payout ratio is presently 26.48%.
In other General Motors news, VP Thomas S. Timko sold 17,255 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the sale, the vice president now owns 26,100 shares in the company, valued at approximately $934,119. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Patricia F. Russo purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were purchased at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the purchase, the director now owns 12,300 shares in the company, valued at approximately $427,179. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 614,947 shares of company stock worth $22,402,528. Company insiders own 0.04% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GM. Intrust Bank NA boosted its stake in shares of General Motors by 0.3% in the second quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock worth $250,000 after buying an additional 25 shares during the last quarter. IFC Holdings Incorporated FL boosted its stake in shares of General Motors by 0.3% in the second quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock worth $1,120,000 after buying an additional 88 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of General Motors by 1.8% in the second quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock worth $230,000 after buying an additional 115 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of General Motors by 2.3% in the second quarter. Alpha Windward LLC now owns 5,542 shares of the auto manufacturer’s stock worth $194,000 after buying an additional 125 shares during the last quarter. Finally, Heritage Investors Management Corp boosted its stake in shares of General Motors by 0.3% in the second quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock worth $1,735,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.
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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