General Motors Company (GM) Downgraded to “Hold” at Standpoint Research
Standpoint Research downgraded shares of General Motors Company (NYSE:GM) (TSE:GMM.U) from a buy rating to a hold rating in a research report released on Thursday morning, MarketBeat Ratings reports.
Several other brokerages have also commented on GM. Piper Jaffray Companies restated a buy rating and set a $44.00 target price on shares of General Motors in a research report on Tuesday, September 12th. Buckingham Research reiterated a neutral rating and issued a $33.00 price objective on shares of General Motors in a research report on Friday, September 8th. BidaskClub upgraded shares of General Motors from a buy rating to a strong-buy rating in a research report on Wednesday, July 19th. Vetr lowered shares of General Motors from a buy rating to a hold rating and set a $37.42 price objective on the stock. in a research report on Monday, July 17th. Finally, Zacks Investment Research lowered shares of General Motors from a hold rating to a strong sell rating in a research report on Monday, July 24th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $38.97.
General Motors (GM) opened at 38.88 on Thursday. The firm’s 50-day moving average is $36.04 and its 200 day moving average is $35.11. The stock has a market capitalization of $56.66 billion, a P/E ratio of 6.76 and a beta of 1.44. General Motors has a 12-month low of $30.21 and a 12-month high of $39.18.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.86 EPS. Equities analysts expect that General Motors will post $6.13 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.
In other news, President Daniel Ammann sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were 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 owns 185,953 shares of the company’s stock, valued at approximately $7,066,214. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas S. Timko sold 17,255 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $35.79, for a total transaction of $617,556.45. Following the transaction, the vice president now directly owns 26,100 shares of the company’s stock, valued at approximately $934,119. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 614,947 shares of company stock valued at $22,402,528. Corporate insiders own 0.04% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GM. YorkBridge Wealth Partners LLC increased its position in General Motors by 43.5% during 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 acquired a new stake in General Motors during the 1st quarter worth approximately $103,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in General Motors during the 1st quarter worth approximately $106,000. FNY Managed Accounts LLC acquired a new stake in General Motors during the 1st quarter worth approximately $107,000. Finally, Ffcm LLC increased its position in General Motors by 2,008.1% during 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. 72.21% of the stock is 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’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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