General Motors Company (GM) Upgraded at Deutsche Bank AG
Deutsche Bank AG upgraded shares of General Motors Company (NYSE:GM) (TSE:GMM.U) from a hold rating to a buy rating in a research report report published on Monday, Marketbeat Ratings reports. They currently have $51.00 price objective on the auto manufacturer’s stock, up from their previous price objective of $36.00.
Several other equities analysts have also commented on GM. Wolfe Research began coverage on shares of General Motors in a report on Tuesday, June 13th. They issued a market perform rating and a $33.00 target price on the stock. BidaskClub lowered shares of General Motors from a buy rating to a hold rating in a report on Saturday, June 24th. Morgan Stanley began coverage on shares of General Motors in a report on Wednesday, June 28th. They issued an overweight rating and a $40.00 target price on the stock. Vetr raised shares of General Motors from a hold rating to a buy rating and set a $37.42 target price on the stock in a report on Monday, July 24th. Finally, CLSA began coverage on shares of General Motors in a report on Wednesday, June 21st. They issued a hold rating and a $37.00 target price on the stock. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $39.16.
Shares of General Motors (GM) opened at 40.58 on Monday. The company has a 50-day moving average of $36.19 and a 200-day moving average of $35.09. The company has a market cap of $59.13 billion, a PE ratio of 7.05 and a beta of 1.44. General Motors has a 1-year low of $30.21 and a 1-year high of $40.69. General Motors also was the target of unusually large options trading activity on Monday. Stock traders bought 15,373 put options on the company. This is an increase of 208% compared to the typical daily volume of 4,996 put options.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. During the same period last year, the firm earned $1.86 earnings per share. General Motors’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts forecast that General Motors will post $6.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, September 8th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 3.75%. General Motors’s dividend payout ratio is presently 26.48%.
In other news, Director Patricia F. Russo purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the transaction, the director now owns 12,300 shares of the company’s stock, valued at $427,179. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Daniel Ammann sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $40.19, for a total transaction of $1,607,600.00. Following the completion of the transaction, the president now owns 145,953 shares in the company, valued at approximately $5,865,851.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 654,947 shares of company stock worth $24,010,128. 0.04% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of GM. YorkBridge Wealth Partners LLC lifted its position in shares of General Motors by 43.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock worth $101,000 after purchasing an additional 860 shares during the period. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of General Motors in the 1st quarter worth approximately $106,000. FNY Managed Accounts LLC acquired a new position in shares of General Motors in the 1st quarter worth approximately $107,000. State of Alaska Department of Revenue lifted its position in shares of General Motors by 10.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after purchasing an additional 310 shares during the period. Finally, Ffcm LLC lifted its position in shares of General Motors by 2,008.1% in the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after purchasing an additional 3,213 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.
General Motors Company Profile
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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