General Motors Company (GM) Upgraded at BidaskClub
General Motors Company (NYSE:GM) (TSE:GMM.U) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
A number of other analysts have also recently weighed in on GM. Vetr upgraded shares of General Motors Company to a “strong-buy” rating in a report on Friday, June 9th. Wolfe Research assumed coverage on shares of General Motors Company in a report on Tuesday. They set a “market perform” rating and a $33.00 target price for the company. Jefferies Group LLC restated a “buy” rating and set a $36.00 target price on shares of General Motors Company in a report on Tuesday. Berenberg Bank restated a “sell” rating and set a $31.00 target price on shares of General Motors Company in a report on Tuesday. Finally, Buckingham Research restated a “neutral” rating on shares of General Motors Company in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.56.
Shares of General Motors Company (GM) traded up 0.29% during trading on Wednesday, hitting $34.61. The stock had a trading volume of 10,591,302 shares. General Motors Company has a 12-month low of $27.34 and a 12-month high of $38.55. The stock has a market cap of $52.23 billion, a price-to-earnings ratio of 5.35 and a beta of 1.35. The stock’s 50-day moving average is $33.79 and its 200-day moving average is $35.43.
General Motors Company (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Friday, April 28th. The auto manufacturer reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.25. The firm had revenue of $41.20 billion during the quarter, compared to analysts’ expectations of $37.38 billion. General Motors Company had a net margin of 5.92% and a return on equity of 22.82%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. On average, equities research analysts expect that General Motors Company will post $6.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Stockholders of record on Friday, June 9th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.52 annualized dividend and a dividend yield of 4.39%. General Motors Company’s dividend payout ratio (DPR) is 23.53%.
In other news, insider Mark L. Reuss sold 75,000 shares of the stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $33.35, for a total transaction of $2,501,250.00. Following the transaction, the insider now owns 133,052 shares in the company, valued at approximately $4,437,284.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stefan Jacoby sold 2,670 shares of the stock in a transaction on Monday, April 10th. The stock was sold at an average price of $33.85, for a total transaction of $90,379.50. Following the transaction, the insider now owns 83,065 shares in the company, valued at approximately $2,811,750.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,828 shares of company stock worth $4,208,691. 0.04% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in GM. Elgethun Capital Management acquired a new position in shares of General Motors Company during the fourth quarter valued at approximately $101,000. State of Alaska Department of Revenue acquired a new position in shares of General Motors Company during the first quarter valued at approximately $103,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of General Motors Company during the first quarter valued at approximately $106,000. FNY Managed Accounts LLC acquired a new position in shares of General Motors Company during the first quarter valued at approximately $107,000. Finally, LeJeune Puetz Investment Counsel LLC acquired a new position in shares of General Motors Company during the fourth quarter valued at approximately $119,000. Institutional investors own 74.73% of the company’s stock.
General Motors Company 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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