General Motors (GM) Given Consensus Recommendation of “Buy” by Brokerages
Shares of General Motors (NYSE:GM) (TSE:GMM.U) have been assigned a consensus recommendation of “Buy” from the twenty research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $45.79.
A number of research analysts have commented on the company. Zacks Investment Research lowered General Motors from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Nomura dropped coverage on General Motors in a report on Tuesday, November 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $38.00 price objective on shares of General Motors in a report on Tuesday, November 13th. Piper Jaffray Companies set a $51.00 price objective on General Motors and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, Morgan Stanley upped their price objective on General Motors from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, November 6th.
GM opened at $35.55 on Thursday. General Motors has a 1-year low of $30.56 and a 1-year high of $45.52. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $50.36 billion, a P/E ratio of 5.37, a price-to-earnings-growth ratio of 0.68 and a beta of 1.25.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Thursday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 22.96%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC boosted its stake in General Motors by 3,244.4% in the second quarter. Cornerstone Wealth Management LLC now owns 245,979 shares of the auto manufacturer’s stock valued at $6,227,000 after buying an additional 238,624 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in General Motors by 15.8% in the second quarter. Steward Partners Investment Advisory LLC now owns 22,516 shares of the auto manufacturer’s stock valued at $887,000 after purchasing an additional 3,065 shares during the last quarter. Foster & Motley Inc. bought a new position in General Motors in the second quarter valued at about $226,000. Unigestion Holding SA bought a new position in General Motors in the second quarter valued at about $8,920,000. Finally, Perella Weinberg Partners Capital Management LP raised its position in General Motors by 107.2% in the second quarter. Perella Weinberg Partners Capital Management LP now owns 28,040 shares of the auto manufacturer’s stock valued at $1,105,000 after purchasing an additional 14,505 shares during the last quarter. 73.82% of the stock is currently owned by institutional investors.
About General Motors
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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