Goldman Sachs Group Reiterates $33.00 Price Target for General Motors (GM)
Goldman Sachs Group set a $33.00 target price on General Motors (NYSE:GM) (TSE:GMM.U) in a research report released on Tuesday morning. The firm currently has a sell rating on the auto manufacturer’s stock.
Several other brokerages have also commented on GM. Deutsche Bank increased their price objective on General Motors from $51.00 to $52.00 and gave the company a buy rating in a research report on Wednesday, October 25th. BMO Capital Markets upgraded General Motors to a market perform rating and raised their price target for the stock from $41.00 to $48.00 in a research report on Wednesday, October 25th. Craig Hallum set a $45.00 price target on General Motors and gave the stock a hold rating in a research report on Wednesday, October 25th. Royal Bank of Canada raised their price target on General Motors from $44.00 to $51.00 and gave the stock a sector perform rating in a research report on Wednesday, October 25th. Finally, Morgan Stanley lowered General Motors from an overweight rating to an equal weight rating and reduced their price target for the stock from $46.48 to $43.00 in a research report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. General Motors has a consensus rating of Hold and an average target price of $44.32.
General Motors (NYSE:GM) opened at $40.75 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $59,457.48, a PE ratio of -14.10, a PEG ratio of 0.73 and a beta of 1.59. General Motors has a 1 year low of $31.92 and a 1 year high of $46.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, March 8th. General Motors’s dividend payout ratio (DPR) is currently -52.59%.
In other General Motors news, EVP Stefan Jacoby sold 37,961 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $42.87, for a total value of $1,627,388.07. Following the completion of the sale, the executive vice president now owns 98,340 shares in the company, valued at approximately $4,215,835.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $43.08, for a total value of $2,173,084.44. Following the completion of the sale, the insider now owns 57,091 shares of the company’s stock, valued at approximately $2,459,480.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,847 shares of company stock valued at $7,363,108. Company insiders own 0.04% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank lifted its stake in shares of General Motors by 1.6% in the 3rd quarter. Swiss National Bank now owns 5,006,857 shares of the auto manufacturer’s stock valued at $202,177,000 after purchasing an additional 81,000 shares during the period. Alyeska Investment Group L.P. lifted its stake in shares of General Motors by 181.5% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,809,371 shares of the auto manufacturer’s stock valued at $73,062,000 after purchasing an additional 1,166,696 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of General Motors by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock valued at $601,683,000 after purchasing an additional 331,621 shares during the period. Lehman Financial Resources Inc. lifted its stake in shares of General Motors by 6.4% in the 3rd quarter. Lehman Financial Resources Inc. now owns 67,653 shares of the auto manufacturer’s stock valued at $2,731,000 after purchasing an additional 4,050 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of General Motors in the 3rd quarter valued at approximately $701,000. Institutional investors and hedge funds own 72.49% of the company’s stock.
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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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