General Motors Co. (GM) Rating Lowered to Hold at Vetr Inc.
General Motors Co. (NYSE:GM) (TSE:GMM.U) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday. They presently have a $33.24 price target on the auto manufacturer’s stock. Vetr‘s target price suggests a potential downside of 0.57% from the stock’s current price.
Other analysts have also issued reports about the stock. Royal Bank Of Canada upped their price objective on shares of General Motors from $32.00 to $34.00 and gave the company a “sector perform” rating in a research note on Friday, July 22nd. Barclays PLC reaffirmed an “equal weight” rating and set a $36.00 price objective on shares of General Motors in a research note on Thursday, August 11th. Seaport Global Securities started coverage on General Motors in a report on Tuesday, August 9th. They issued a “buy” rating and a $42.00 target price on the stock. Citigroup Inc. reiterated a “buy” rating and issued a $50.00 target price on shares of General Motors in a report on Thursday, July 21st. Finally, Argus reiterated a “hold” rating on shares of General Motors in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $36.39.
General Motors (NYSE:GM) opened at 33.43 on Monday. The firm’s 50-day moving average is $31.87 and its 200-day moving average is $31.03. The firm has a market capitalization of $50.96 billion, a PE ratio of 3.82 and a beta of 1.42. General Motors has a 12 month low of $26.69 and a 12 month high of $36.88.
General Motors (NYSE:GM) last posted its quarterly earnings data on Tuesday, October 25th. The auto manufacturer reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.28. General Motors had a net margin of 8.58% and a return on equity of 23.22%. The company earned $42.80 billion during the quarter, compared to analyst estimates of $39.11 billion. During the same period in the prior year, the firm earned $1.50 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities research analysts expect that General Motors will post $6.01 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Wednesday, December 7th will be given a $0.38 dividend. The ex-dividend date of this dividend is Monday, December 5th. This represents a $1.52 annualized dividend and a yield of 4.55%. General Motors’s dividend payout ratio (DPR) is currently 17.41%.
In related news, VP Thomas S. Timko sold 6,250 shares of the firm’s stock in a transaction 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 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 document filed with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of GM. Bank of Hawaii boosted its position in shares of General Motors by 0.4% in the third quarter. Bank of Hawaii now owns 9,321 shares of the auto manufacturer’s stock worth $296,000 after buying an additional 40 shares during the last quarter. WFG Advisors LP boosted its position in shares of General Motors by 0.5% in the second quarter. WFG Advisors LP now owns 9,031 shares of the auto manufacturer’s stock worth $256,000 after buying an additional 48 shares during the last quarter. Point View Wealth Management Inc. boosted its position in shares of General Motors by 0.3% in the third quarter. Point View Wealth Management Inc. now owns 19,178 shares of the auto manufacturer’s stock worth $609,000 after buying an additional 53 shares during the last quarter. Conning Inc. boosted its position in shares of General Motors by 0.3% in the third quarter. Conning Inc. now owns 34,310 shares of the auto manufacturer’s stock worth $1,090,000 after buying an additional 90 shares during the last quarter. Finally, First Interstate Bank boosted its position in shares of General Motors by 0.5% in the second quarter. First Interstate Bank now owns 19,295 shares of the auto manufacturer’s stock worth $546,000 after buying an additional 100 shares during the last quarter. 71.81% of the stock is owned by institutional investors.
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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