Vetr Inc. Downgrades General Motors Co. (GM) to Hold
General Motors Co. (NYSE:GM) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday. They currently have a $33.44 price target on the auto manufacturer’s stock. Vetr‘s target price would suggest a potential upside of 2.33% from the stock’s previous close.
A number of other equities analysts have also recently weighed in on GM. Piper Jaffray Cos. started coverage on shares of General Motors in a research report on Thursday, June 9th. They issued an “overweight” rating and a $41.00 price objective for the company. Citigroup Inc. reaffirmed a “buy” rating and set a $50.00 price target on shares of General Motors in a research report on Thursday, June 9th. Robert W. Baird reaffirmed a “neutral” rating and set a $25.00 price target on shares of General Motors in a research report on Monday, June 20th. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $28.00 price target on shares of General Motors in a research report on Monday, June 20th. Finally, Zacks Investment Research raised shares of General Motors from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Wednesday, June 22nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $37.02.
General Motors (NYSE:GM) opened at 32.68 on Tuesday. General Motors has a 52-week low of $26.69 and a 52-week high of $36.88. The stock’s 50 day moving average price is $31.71 and its 200 day moving average price is $30.86. The stock has a market capitalization of $51.04 billion, a price-to-earnings ratio of 4.19 and a beta of 1.65.
General Motors (NYSE:GM) last posted its quarterly earnings data on Thursday, July 21st. The auto manufacturer reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.35. The company earned $42.40 billion during the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a net margin of 7.90% and a return on equity of 23.96%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.29 EPS. On average, analysts forecast that General Motors will post $5.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 9th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date was Wednesday, September 7th. General Motors’s payout ratio is 19.46%.
In related news, VP Thomas S. Timko sold 6,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total value of $199,625.00. Following the completion of the transaction, the vice president now owns 27,477 shares of the company’s stock, valued at approximately $877,615.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jane L. Mendillo acquired 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was purchased at an average cost of $31.01 per share, with a total value of $49,616.00. Following the purchase, the director now directly owns 1,600 shares in the company, valued at approximately $49,616. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GM. BB&T Securities LLC raised its position in General Motors by 552.8% in the first quarter. BB&T Securities LLC now owns 1,741,235 shares of the auto manufacturer’s stock worth $54,727,000 after buying an additional 1,474,508 shares in the last quarter. Canada Pension Plan Investment Board raised its position in General Motors by 126.1% in the first quarter. Canada Pension Plan Investment Board now owns 513,210 shares of the auto manufacturer’s stock worth $16,130,000 after buying an additional 286,210 shares in the last quarter. Ruffer LLP purchased a new position in General Motors during the first quarter worth approximately $628,000. Aviva PLC raised its position in General Motors by 16.8% in the first quarter. Aviva PLC now owns 1,196,456 shares of the auto manufacturer’s stock worth $37,605,000 after buying an additional 172,151 shares in the last quarter. Finally, Wunderlich Capital Managemnt raised its position in General Motors by 2.0% in the first quarter. Wunderlich Capital Managemnt now owns 43,810 shares of the auto manufacturer’s stock worth $1,377,000 after buying an additional 873 shares in the last quarter. 70.40% of the stock is owned by hedge funds and other institutional investors.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.
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