General Motors Co. (GM) Downgraded by Goldman Sachs Group Inc. to Neutral
Goldman Sachs Group Inc. downgraded shares of General Motors Co. (NYSE:GM) to a neutral rating in a research note released on Thursday. They currently have $29.00 price target on the auto manufacturer’s stock.
Other equities research analysts also recently issued reports about the company. Tigress Financial reissued a buy rating on shares of General Motors in a report on Wednesday, June 22nd. Zacks Investment Research raised General Motors from a hold rating to a buy rating and set a $33.00 price objective for the company in a report on Wednesday, June 22nd. Vetr downgraded General Motors from a strong-buy rating to a buy rating and set a $33.03 price objective for the company. in a report on Monday, June 20th. SunTrust Banks Inc. reissued a buy rating and issued a $28.00 price objective on shares of General Motors in a report on Monday, June 20th. Finally, Citigroup Inc. reissued a buy rating and issued a $50.00 price objective on shares of General Motors in a report on Thursday, June 9th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $36.67.
Shares of General Motors (NYSE:GM) traded down 1.368% during midday trading on Thursday, reaching $32.085. 3,176,924 shares of the company traded hands. The stock’s 50-day moving average is $31.73 and its 200-day moving average is $30.87. General Motors has a 1-year low of $26.69 and a 1-year high of $36.88. The stock has a market capitalization of $50.11 billion, a P/E ratio of 4.109 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 the Thomson Reuters’ consensus estimate of $1.51 by $0.35. The business earned $42.40 billion during the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a return on equity of 23.96% and a net margin of 7.90%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.29 earnings per share. Equities analysts predict that General Motors will post $5.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were issued a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.67%. General Motors’s dividend payout ratio (DPR) is 19.46%.
In other news, VP Thomas S. Timko sold 6,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total value of $199,625.00. Following the completion of the sale, the vice president now directly owns 27,477 shares in the company, valued at approximately $877,615.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jane L. Mendillo purchased 1,600 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average price of $31.01 per share, with a total value of $49,616.00. Following the completion of the acquisition, 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. 0.04% of the stock is owned by insiders.
Several large investors have recently modified their holdings of GM. Atalanta Sosnoff Capital LLC increased its stake in shares of General Motors by 62.4% in the third quarter. Atalanta Sosnoff Capital LLC now owns 143,596 shares of the auto manufacturer’s stock worth $4,562,000 after buying an additional 55,163 shares during the period. Foundry Partners LLC increased its stake in shares of General Motors by 9.2% in the third quarter. Foundry Partners LLC now owns 492,090 shares of the auto manufacturer’s stock worth $15,634,000 after buying an additional 41,550 shares during the period. McQueen Ball & Associates Inc. increased its stake in shares of General Motors by 1.5% in the third quarter. McQueen Ball & Associates Inc. now owns 41,734 shares of the auto manufacturer’s stock worth $1,326,000 after buying an additional 599 shares during the period. Summit Financial Wealth Advisors LLC increased its stake in shares of General Motors by 17.9% in the third quarter. Summit Financial Wealth Advisors LLC now owns 20,536 shares of the auto manufacturer’s stock worth $652,000 after buying an additional 3,120 shares during the period. Finally, New England Research & Management Inc. purchased a new stake in shares of General Motors during the third quarter worth $340,000. Institutional investors and hedge funds own 70.40% of the company’s stock.
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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