General Motors Co. (GM) Stock Rating Upgraded by Vetr Inc.
General Motors Co. (NYSE:GM) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $33.05 price objective on the auto manufacturer’s stock. Vetr‘s target price suggests a potential upside of 0.98% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the company. Nomura set a $33.00 price objective on General Motors and gave the stock a “hold” rating in a research report on Thursday, October 27th. Bank of America Corp. lowered General Motors from a “buy” rating to a “neutral” rating and upped their price target for the company from $26.69 to $31.60 in a research report on Wednesday, October 26th. Craig Hallum lowered General Motors from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Citigroup Inc. reiterated an “overweight” rating on shares of General Motors in a research report on Friday, October 21st. Finally, Goldman Sachs Group Inc. lowered General Motors to a “neutral” rating and reduced their price target for the company from $37.00 to $29.00 in a research report on Thursday, October 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $36.38.
General Motors (NYSE:GM) opened at 32.73 on Wednesday. The company has a market capitalization of $49.89 billion, a P/E ratio of 3.74 and a beta of 1.42. The company’s 50 day moving average price is $31.82 and its 200-day moving average price is $31.02. General Motors has a 12-month low of $26.69 and a 12-month high of $36.88.
General Motors (NYSE:GM) last issued its quarterly earnings data on Tuesday, October 25th. The auto manufacturer reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.28. The business had revenue of $42.80 billion for the quarter, compared to analyst estimates of $39.11 billion. General Motors had a return on equity of 23.22% and a net margin of 8.58%. General Motors’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS. Equities analysts forecast that General Motors will post $6.01 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Shareholders of record on Wednesday, December 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 4.64%. The ex-dividend date is Monday, December 5th. General Motors’s dividend payout ratio (DPR) is 17.41%.
In other General Motors news, VP Thomas S. Timko sold 6,250 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the completion of the transaction, the vice president now directly owns 27,477 shares of the company’s stock, valued at $877,615.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.04% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in General Motors by 0.4% in the second quarter. Vanguard Group Inc. now owns 86,210,502 shares of the auto manufacturer’s stock worth $2,439,758,000 after buying an additional 332,564 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in General Motors by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 37,273,340 shares of the auto manufacturer’s stock worth $1,184,174,000 after buying an additional 101,905 shares during the last quarter. Capital World Investors raised its position in General Motors by 2.3% in the second quarter. Capital World Investors now owns 22,673,792 shares of the auto manufacturer’s stock worth $641,668,000 after buying an additional 505,600 shares during the last quarter. Janus Capital Management LLC raised its position in General Motors by 38.3% in the second quarter. Janus Capital Management LLC now owns 21,555,499 shares of the auto manufacturer’s stock worth $610,020,000 after buying an additional 5,969,449 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in General Motors by 4.2% in the third quarter. BlackRock Fund Advisors now owns 17,186,243 shares of the auto manufacturer’s stock worth $546,007,000 after buying an additional 692,531 shares during the last quarter. 72.32% of the stock is owned by institutional investors and hedge funds.
About General Motors
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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