Vetr Inc. Downgrades General Motors Co. (GM) to Hold
Vetr lowered shares of General Motors Co. (NYSE:GM) from a buy rating to a hold rating in a report published on Tuesday morning. Vetr currently has $33.44 target price on the auto manufacturer’s stock.
A number of other brokerages have also commented on GM. Piper Jaffray Cos. assumed coverage on shares of General Motors in a research note on Thursday, June 9th. They issued an overweight rating and a $41.00 price target on the stock. Morgan Stanley upgraded shares of General Motors from an equal weight rating to an overweight rating and upped their price target for the company from $29.00 to $37.00 in a research note on Monday, September 19th. Barclays PLC reiterated an equal weight rating and issued a $66.00 price target on shares of General Motors in a research note on Friday, September 23rd. SunTrust Banks Inc. reiterated a buy rating and issued a $28.00 price target on shares of General Motors in a research note on Monday, June 20th. Finally, Seaport Global Securities assumed coverage on shares of General Motors in a research note on Tuesday, August 9th. They issued a buy rating and a $42.00 price target on the stock. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $36.67.
General Motors (NYSE:GM) opened at 32.34 on Tuesday. General Motors has a 52 week low of $26.69 and a 52 week high of $36.88. The company has a market cap of $50.51 billion, a PE ratio of 4.14 and a beta of 1.65. The firm’s 50-day moving average is $31.75 and its 200-day moving average is $30.87.
General Motors (NYSE:GM) last issued its quarterly earnings results on Thursday, July 21st. The auto manufacturer reported $1.86 EPS for the quarter, topping the consensus estimate of $1.51 by $0.35. General Motors had a net margin of 7.90% and a return on equity of 23.96%. The firm had revenue of $42.40 billion for the quarter, compared to analysts’ expectations of $38.81 billion. During the same period in the previous year, the firm posted $1.29 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts expect that General Motors will post $5.83 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date was Wednesday, September 7th. General Motors’s payout ratio is 19.46%.
In other General Motors news, VP Thomas S. Timko sold 6,250 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $31.94, for a total value of $199,625.00. Following the completion of the sale, the vice president now directly owns 27,477 shares in the company, valued at $877,615.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jane L. Mendillo purchased 1,600 shares of General Motors stock in a transaction on Tuesday, August 2nd. The stock was bought at an average price of $31.01 per share, with a total value of $49,616.00. Following the completion of the acquisition, the director now directly owns 1,600 shares of the company’s stock, valued at approximately $49,616. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes 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 period. State Street Corp raised its position in General Motors by 0.6% in the first quarter. State Street Corp now owns 57,087,337 shares of the auto manufacturer’s stock worth $1,794,252,000 after buying an additional 351,497 shares during the period. 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 period. 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 period. Finally, Dimensional Fund Advisors LP raised its position in General Motors by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,708,089 shares of the auto manufacturer’s stock worth $359,632,000 after buying an additional 395,933 shares during the period. 70.40% of the stock is currently owned by hedge funds and other 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.
To view Vetr’s full report, visit Vetr’s official website.
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