General Motors Company (GM) Earns “Overweight” Rating from Morgan Stanley
Morgan Stanley restated their overweight rating on shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in a report released on Thursday. The firm currently has a $43.00 price objective on the auto manufacturer’s stock, up from their previous price objective of $40.00.
A number of other equities research analysts have also weighed in on the company. Standpoint Research lowered General Motors from a buy rating to a hold rating in a research report on Thursday, September 14th. Piper Jaffray Companies reaffirmed 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 reaffirmed a neutral rating and set a $33.00 target price on shares of General Motors in a research report on Friday, September 8th. BidaskClub raised General Motors from a hold rating to a buy rating in a research report on Thursday, August 17th. Finally, Berenberg Bank set a $31.00 target price on General Motors and gave the company a sell rating in a research report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and three have given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $38.59.
General Motors (GM) opened at 39.42 on Thursday. General Motors has a 12-month low of $30.21 and a 12-month high of $39.54. The company has a market cap of $57.44 billion, a P/E ratio of 6.85 and a beta of 1.44. The firm has a 50-day moving average price of $36.19 and a 200-day moving average price of $35.09.
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 for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion during the quarter, compared to analyst estimates of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. General Motors’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 EPS. On average, equities research 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 declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 3.86%. General Motors’s payout ratio is presently 26.48%.
In other General Motors news, VP Thomas S. Timko sold 17,255 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the sale, the vice president now owns 26,100 shares in the company, valued at approximately $934,119. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Patricia F. Russo purchased 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were purchased at an average price of $34.73 per share, for a total transaction of $347,300.00. Following the purchase, the director now owns 12,300 shares in the company, valued at approximately $427,179. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 614,947 shares of company stock worth $22,402,528. Company insiders own 0.04% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. W. E. Donoghue & Co. LLC purchased a new stake in General Motors during the 2nd quarter valued at about $16,341,000. Intl Fcstone Inc. purchased a new stake in General Motors during the 2nd quarter valued at about $259,000. Paradigm Financial Advisors LLC grew its stake in General Motors by 11.3% during the 2nd quarter. Paradigm Financial Advisors LLC now owns 7,462 shares of the auto manufacturer’s stock valued at $261,000 after purchasing an additional 755 shares during the last quarter. WFG Advisors LP grew its stake in General Motors by 1,275.5% during the 2nd quarter. WFG Advisors LP now owns 11,884 shares of the auto manufacturer’s stock valued at $415,000 after purchasing an additional 11,020 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in General Motors by 7.2% during the 2nd quarter. Cetera Investment Advisers now owns 17,425 shares of the auto manufacturer’s stock valued at $602,000 after purchasing an additional 1,176 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.
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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