General Motors (GM) Cut to “Hold” at Vetr
Vetr lowered shares of General Motors (NYSE:GM) (TSE:GMM.U) from a strong-buy rating to a hold rating in a report published on Monday. Vetr currently has $43.99 price target on the auto manufacturer’s stock.
Other equities research analysts have also recently issued reports about the company. Morgan Stanley cut General Motors from an overweight rating to an equal weight rating and dropped their target price for the company from $46.48 to $43.00 in a research report on Wednesday, October 25th. Royal Bank Of Canada raised their target price on General Motors from $44.00 to $51.00 and gave the company a sector perform rating in a research report on Wednesday, October 25th. Craig Hallum set a $45.00 target price on General Motors and gave the company a hold rating in a research report on Wednesday, October 25th. BMO Capital Markets upgraded General Motors to a market perform rating and raised their target price for the company from $41.00 to $48.00 in a research report on Wednesday, October 25th. Finally, Deutsche Bank raised their target price on General Motors from $51.00 to $52.00 and gave the company a buy rating in a research report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $43.70.
Shares of General Motors (NYSE GM) opened at $42.15 on Monday. The firm has a market capitalization of $60,793.46, a PE ratio of 6.91, a price-to-earnings-growth ratio of 0.74 and a beta of 1.54. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.79 and a current ratio of 0.94. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, December 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, December 7th. General Motors’s payout ratio is 77.95%.
In other General Motors news, CFO Charles K. Stevens III sold 265,458 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $44.49, for a total value of $11,810,226.42. Following the transaction, the chief financial officer now directly owns 326,510 shares of the company’s stock, valued at approximately $14,526,429.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Daniel Ammann sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $38.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the president now directly owns 185,953 shares in the company, valued at $7,066,214. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,021,565 shares of company stock worth $42,801,037. 0.04% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GM. YorkBridge Wealth Partners LLC lifted its stake in 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 in the last quarter. State of Alaska Department of Revenue lifted its stake in 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 in the last quarter. Fieldpoint Private Securities LLC purchased a new position in General Motors in the 3rd quarter worth approximately $119,000. Ffcm LLC lifted its stake in 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 in the last quarter. Finally, Ropes Wealth Advisors LLC lifted its stake in General Motors by 240.2% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 4,600 shares of the auto manufacturer’s stock worth $161,000 after purchasing an additional 3,248 shares in the last quarter. 73.06% of the stock is currently 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’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.
To view Vetr’s full report, visit Vetr’s official website.
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