Zacks Investment Research upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a sell rating to a hold rating in a report published on Tuesday.
According to Zacks, “General Motors outperformed the industry it belongs to over the last six months. The company’s capital allocation strategy, initiatives to make its vehicles more advanced, safer and fuel efficient and focus on technology development are likely to benefit. Moreover, the company's focus on capital deployment is expected to boost shareholder returns. Its restructuring activities are also expected to benefit in the long run. Also, the company is raising investment in emerging markets to boost global sales. It is trying to take advantage of emerging markets growth via product launches and joint ventures.”
Several other research firms also recently commented on GM. Morgan Stanley downgraded General Motors from an overweight rating to an equal weight rating and dropped their target price for the stock from $46.48 to $43.00 in a report on Wednesday, October 25th. Royal Bank of Canada boosted their target price on General Motors from $44.00 to $51.00 and gave the stock a sector perform rating in a report on Wednesday, October 25th. Craig Hallum set a $45.00 target price on General Motors and gave the stock a hold rating in a report on Wednesday, October 25th. BMO Capital Markets raised General Motors to a market perform rating and boosted their target price for the stock from $41.00 to $48.00 in a report on Wednesday, October 25th. Finally, Deutsche Bank boosted their target price on General Motors from $51.00 to $52.00 and gave the stock a buy rating in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $44.29.
General Motors (NYSE GM) traded down $0.12 during midday trading on Tuesday, hitting $44.07. The company had a trading volume of 14,911,914 shares, compared to its average volume of 12,800,000. The company has a quick ratio of 0.79, a current ratio of 0.94 and a debt-to-equity ratio of 1.54. General Motors has a one year low of $31.92 and a one year high of $46.76. The company has a market capitalization of $62,600.00, a price-to-earnings ratio of 9.54, a PEG ratio of 0.82 and a beta of 1.55.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.25. General Motors had a return on equity of 20.95% and a net margin of 2.00%. The company had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. During the same period in the previous year, the company posted $1.72 earnings per share. The firm’s revenue was down 16.6% on a year-over-year basis. research analysts predict that General Motors will post 6.25 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Friday, December 8th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Thursday, December 7th. General Motors’s payout ratio is currently 32.90%.
In other news, CAO Thomas S. Timko sold 44,791 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the transaction, the chief accounting officer now directly owns 66,838 shares of the company’s stock, valued at $2,971,617.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Charles K. Stevens III sold 265,458 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $44.49, for a total value of $11,810,226.42. Following the transaction, the chief financial officer now directly owns 326,510 shares in the company, valued at $14,526,429.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 552,298 shares of company stock worth $24,408,137. Corporate insiders own 0.04% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Peapack Gladstone Financial Corp increased its position in General Motors by 2.7% during the second quarter. Peapack Gladstone Financial Corp now owns 6,428 shares of the auto manufacturer’s stock valued at $225,000 after acquiring an additional 166 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its position in General Motors by 6.9% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 8,257 shares of the auto manufacturer’s stock valued at $288,000 after acquiring an additional 535 shares during the last quarter. Veritable L.P. increased its position in General Motors by 1.0% during the second quarter. Veritable L.P. now owns 61,892 shares of the auto manufacturer’s stock valued at $2,162,000 after acquiring an additional 619 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. increased its position in General Motors by 11.2% during the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 6,713 shares of the auto manufacturer’s stock valued at $234,000 after acquiring an additional 674 shares during the last quarter. Finally, Carret Asset Management LLC increased its position in General Motors by 0.8% during the second quarter. Carret Asset Management LLC now owns 89,556 shares of the auto manufacturer’s stock valued at $3,128,000 after acquiring an additional 676 shares during the last quarter. Institutional investors own 73.01% of the company’s stock.
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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