Morgan Stanley set a $48.00 target price on General Motors (NYSE:GM) (TSE:GMM.U) in a research report sent to investors on Thursday morning. The brokerage currently has a buy rating on the auto manufacturer’s stock.
GM has been the topic of a number of other reports. Vetr downgraded shares of General Motors from a hold rating to a sell rating and set a $40.25 target price on the stock. in a research report on Tuesday, February 27th. Goldman Sachs Group set a $33.00 target price on shares of General Motors and gave the stock a sell rating in a research report on Tuesday, February 6th. Bank of America upped their price target on shares of General Motors from $57.00 to $60.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. Zacks Investment Research upgraded shares of General Motors from a hold rating to a buy rating and set a $46.00 price target on the stock in a research note on Wednesday, February 14th. Finally, TheStreet cut shares of General Motors from a b rating to a c+ rating in a research note on Tuesday, March 27th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $45.56.
NYSE:GM opened at $38.39 on Thursday. The stock has a market capitalization of $53.35 billion, a PE ratio of 5.80, a price-to-earnings-growth ratio of 1.08 and a beta of 1.61. The company has a current ratio of 0.86, a quick ratio of 0.73 and a debt-to-equity ratio of 1.96. General Motors has a 1-year low of $31.92 and a 1-year high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Thursday, April 26th. The auto manufacturer reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.19. The firm had revenue of $36.10 billion for the quarter, compared to the consensus estimate of $34.67 billion. General Motors had a negative net margin of 3.76% and a positive return on equity of 23.03%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.70 EPS. analysts forecast that General Motors will post 6.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 22nd. Shareholders of record on Friday, June 8th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.96%. The ex-dividend date is Thursday, June 7th. General Motors’s dividend payout ratio is currently 22.96%.
In other General Motors news, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $39.71, for a total transaction of $1,588,400,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles K. Stevens III sold 35,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $36.10, for a total transaction of $1,263,500.00. Following the completion of the transaction, the insider now owns 67,741 shares in the company, valued at approximately $2,445,450.10. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of General Motors by 1.4% in the 1st quarter. BlackRock Inc. now owns 78,008,491 shares of the auto manufacturer’s stock worth $2,834,827,000 after purchasing an additional 1,086,199 shares during the period. Franklin Resources Inc. increased its holdings in General Motors by 13.7% in the 1st quarter. Franklin Resources Inc. now owns 24,874,605 shares of the auto manufacturer’s stock worth $903,943,000 after acquiring an additional 3,005,964 shares in the last quarter. LSV Asset Management increased its holdings in General Motors by 3.7% in the 1st quarter. LSV Asset Management now owns 11,199,985 shares of the auto manufacturer’s stock worth $407,007,000 after acquiring an additional 404,722 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in General Motors by 1.0% in the 4th quarter. Bank of New York Mellon Corp now owns 11,020,001 shares of the auto manufacturer’s stock worth $451,709,000 after acquiring an additional 110,658 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in General Motors by 78.1% in the 4th quarter. Millennium Management LLC now owns 6,810,691 shares of the auto manufacturer’s stock worth $279,170,000 after acquiring an additional 2,986,293 shares in the last quarter. Hedge funds and other institutional investors own 73.09% of the company’s stock.
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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