Goldman Sachs Group Analysts Give General Motors (GM) a $33.00 Price Target
Goldman Sachs Group set a $33.00 price objective on General Motors (NYSE:GM) (TSE:GMM.U) in a research report released on Tuesday morning. The brokerage currently has a sell rating on the auto manufacturer’s stock.
A number of other analysts have also recently commented on GM. Citigroup reissued a buy rating and issued a $53.00 price target on shares of General Motors in a research report on Monday, October 9th. UBS Group reissued a buy rating and issued a $50.00 price target (up from $39.00) on shares of General Motors in a research report on Wednesday, October 11th. Barclays raised General Motors from an equal weight rating to an overweight rating and boosted their price target for the stock from $41.00 to $55.00 in a research report on Friday, October 13th. Piper Jaffray Companies set a $44.00 price target on General Motors and gave the stock a buy rating in a research report on Monday, October 16th. Finally, Morgan Stanley cut General Motors from an overweight rating to an equal weight rating and dropped their price target for the stock from $46.48 to $43.00 in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $44.32.
Shares of General Motors (NYSE GM) opened at $41.46 on Tuesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.89 and a quick ratio of 0.79. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76. The company has a market capitalization of $58,890.00, a P/E ratio of -1,382.00, a PEG ratio of 0.73 and a beta of 1.59.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.67%. General Motors’s payout ratio is currently -5,066.67%.
In other General Motors news, insider Mark L. Reuss sold 30,000 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $43.09, for a total transaction of $1,292,700.00. Following the completion of the sale, the insider now directly owns 103,052 shares in the company, valued at approximately $4,440,510.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Stefan Jacoby sold 37,961 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the sale, the executive vice president now owns 98,340 shares of the company’s stock, valued at $4,215,835.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,847 shares of company stock valued at $7,363,108. 0.04% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in GM. Macquarie Group Ltd. raised its stake in General Motors by 11.0% during the 2nd quarter. Macquarie Group Ltd. now owns 79,000 shares of the auto manufacturer’s stock valued at $2,759,000 after buying an additional 7,800 shares during the last quarter. Assetmark Inc. raised its stake in General Motors by 40.3% during the 2nd quarter. Assetmark Inc. now owns 464,901 shares of the auto manufacturer’s stock valued at $16,239,000 after buying an additional 133,463 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in General Motors by 14.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 182,641 shares of the auto manufacturer’s stock valued at $6,380,000 after buying an additional 23,608 shares during the last quarter. Bank of Nova Scotia raised its stake in General Motors by 195.7% during the 2nd quarter. Bank of Nova Scotia now owns 775,940 shares of the auto manufacturer’s stock valued at $27,103,000 after buying an additional 513,505 shares during the last quarter. Finally, Psagot Investment House Ltd. raised its stake in General Motors by 2.7% during the 2nd quarter. Psagot Investment House Ltd. now owns 49,340 shares of the auto manufacturer’s stock valued at $1,723,000 after buying an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 72.49% of the company’s stock.
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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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