General Motors (GM) Upgraded by Vetr to Strong-Buy
Vetr upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning. They currently have $42.79 price objective on the auto manufacturer’s stock.
Several other brokerages have also recently issued reports on GM. Morgan Stanley restated a hold rating and issued a $43.00 price target on shares of General Motors in a research report on Tuesday, November 28th. Zacks Investment Research upgraded General Motors from a sell rating to a hold rating in a research report on Tuesday, January 9th. Bank of America restated a buy rating and issued a $57.00 price target on shares of General Motors in a research report on Tuesday, November 28th. Guggenheim upgraded General Motors from a neutral rating to a buy rating and set a $37.00 price target on the stock in a research report on Monday, November 20th. Finally, Barclays restated a buy rating and issued a $61.00 price target on shares of General Motors in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $44.55.
General Motors (NYSE GM) traded down $0.36 on Thursday, hitting $37.43. The stock had a trading volume of 24,060,510 shares, compared to its average volume of 14,223,077. The firm has a market capitalization of $52,515.90, a PE ratio of -12.95, a P/E/G ratio of 0.72 and a beta of 1.60. General Motors has a twelve month low of $31.92 and a twelve month high of $46.76. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.89 and a quick ratio of 0.76.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, March 8th. General Motors’s dividend payout ratio is presently -52.59%.
In other news, CAO Thomas S. Timko sold 8,461 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $42.06, for a total transaction of $355,869.66. Following the sale, the chief accounting officer now owns 33,519 shares of the company’s stock, valued at approximately $1,409,809.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Barry L. Engle II sold 50,443 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $43.08, for a total value of $2,173,084.44. Following the sale, the insider now directly owns 57,091 shares in the company, valued at approximately $2,459,480.28. The disclosure for this sale can be found here. Insiders sold a total of 378,252 shares of company stock worth $16,094,534 in the last ninety days. 0.04% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Icon Wealth Partners LLC purchased a new stake in shares of General Motors during the 4th quarter worth approximately $106,000. Fieldpoint Private Securities LLC purchased a new stake in shares of General Motors during the 3rd quarter worth approximately $119,000. Cerebellum GP LLC purchased a new stake in shares of General Motors during the 4th quarter worth approximately $123,000. Independence Bank of Kentucky purchased a new stake in shares of General Motors during the 4th quarter worth approximately $129,000. Finally, Stumpf Capital Management LLC purchased a new stake in shares of General Motors during the 4th quarter worth approximately $131,000. 73.74% of the stock is currently owned by institutional investors and hedge funds.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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