General Motors Company (GM) Given “Buy” Rating at Citigroup Inc.
Citigroup Inc. restated their buy rating on shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in a report released on Monday morning. Citigroup Inc. currently has a $53.00 target price on the auto manufacturer’s stock.
A number of other analysts have also recently commented on GM. Piper Jaffray Companies reaffirmed a buy rating and issued a $44.00 price target on shares of General Motors in a research note on Tuesday, September 12th. BidaskClub lowered shares of General Motors from a buy rating to a hold rating in a research note on Saturday, June 24th. Berenberg Bank set a $31.00 price objective on shares of General Motors and gave the stock a sell rating in a research note on Monday, August 14th. Standpoint Research cut shares of General Motors from a buy rating to a hold rating in a report on Thursday, September 14th. Finally, Buckingham Research restated a neutral rating and set a $33.00 price objective on shares of General Motors in a report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $39.76.
General Motors (NYSE GM) opened at 42.15 on Monday. The stock has a market capitalization of $61.42 billion, a PE ratio of 7.33 and a beta of 1.44. General Motors has a 52-week low of $30.21 and a 52-week high of $42.48. The firm’s 50-day moving average is $37.52 and its 200 day moving average is $35.28.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter last year, the business earned $1.86 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. On average, equities analysts forecast that General Motors will post $6.13 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Thursday, September 7th. General Motors’s payout ratio is presently 26.48%.
In other news, Director Patricia F. Russo purchased 10,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was purchased at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the completion of the purchase, the director now directly owns 12,300 shares in the company, valued at approximately $427,179. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas S. Timko sold 17,255 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $35.79, for a total transaction of $617,556.45. Following the completion of the sale, the vice president now owns 26,100 shares of the company’s stock, valued at approximately $934,119. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 639,947 shares of company stock worth $23,485,128. 0.04% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in GM. Vanguard Group Inc. raised its holdings in shares of General Motors by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares during the period. BlackRock Inc. lifted its stake in General Motors by 1.1% in the 2nd quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock valued at $2,750,849,000 after purchasing an additional 850,211 shares during the last quarter. State Street Corp lifted its stake in General Motors by 3.9% in the 1st quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after purchasing an additional 2,252,866 shares during the last quarter. Berkshire Hathaway Inc. lifted its stake in General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the last quarter. Finally, Capital World Investors lifted its stake in General Motors by 5.0% in the 2nd quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock valued at $1,094,259,000 after purchasing an additional 1,500,500 shares during the last quarter. 72.21% of the stock is owned by institutional investors.
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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