General Motors Company (GM) Given “Buy” Rating at Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their buy rating on shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in a research note published on Tuesday morning. They currently have a $44.00 price objective on the auto manufacturer’s stock.
A number of other equities analysts also recently issued reports on GM. Berenberg Bank set a $31.00 price target on General Motors and gave the stock a sell rating in a research note on Monday, August 14th. Buckingham Research restated a neutral rating and issued a $33.00 price target on shares of General Motors in a research note on Friday, September 8th. BidaskClub upgraded General Motors from a hold rating to a buy rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded General Motors from a sell rating to a hold rating in a research note on Friday, August 4th. Finally, Vetr upgraded General Motors to a strong-buy rating in a research note on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $38.97.
General Motors (NYSE:GM) opened at 37.89 on Tuesday. The stock has a market cap of $55.21 billion, a PE ratio of 6.59 and a beta of 1.44. The firm has a 50-day moving average price of $35.73 and a 200 day moving average price of $35.04. General Motors has a 52-week low of $30.21 and a 52-week high of $38.55.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly 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. The firm had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the business posted $1.86 EPS. On average, analysts forecast that General Motors will post $6.13 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.01%. General Motors’s dividend payout ratio (DPR) is 26.48%.
In other news, insider Alan S. Batey sold 8,144 shares of General Motors stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $35.57, for a total value of $289,682.08. Following the sale, the insider now directly owns 66,748 shares of the company’s stock, valued at $2,374,226.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John J. Quattrone sold 15,000 shares of General Motors stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $35.00, for a total value of $525,000.00. Following the completion of the sale, the insider now directly owns 42,623 shares in the company, valued at $1,491,805. The disclosure for this sale can be found here. Insiders sold 330,673 shares of company stock worth $11,590,746 over the last ninety days. Insiders own 0.04% of the company’s stock.
Several hedge funds have recently modified their holdings of GM. State of Alaska Department of Revenue bought a new stake in shares of General Motors in the first quarter worth about $103,000. Waldron LP increased its holdings in shares of General Motors by 13.6% in the first quarter. Waldron LP now owns 8,132 shares of the auto manufacturer’s stock worth $287,000 after purchasing an additional 975 shares during the last quarter. Eqis Capital Management Inc. increased its holdings in shares of General Motors by 35.2% in the first quarter. Eqis Capital Management Inc. now owns 59,765 shares of the auto manufacturer’s stock worth $2,113,000 after purchasing an additional 15,548 shares during the last quarter. MUFG Securities EMEA plc increased its holdings in shares of General Motors by 134.2% in the first quarter. MUFG Securities EMEA plc now owns 18,190 shares of the auto manufacturer’s stock worth $643,000 after purchasing an additional 10,424 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of General Motors by 4.1% in the first quarter. First Trust Advisors LP now owns 954,034 shares of the auto manufacturer’s stock worth $33,735,000 after purchasing an additional 37,147 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other 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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