Vetr Upgrades General Motors (GM) to “Hold”
Vetr upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a sell rating to a hold rating in a research note released on Monday. The brokerage currently has $40.24 target price on the auto manufacturer’s stock.
A number of other brokerages have also recently weighed in on GM. Zacks Investment Research cut shares of General Motors from a hold rating to a sell rating in a research report on Tuesday, January 2nd. Cascend Securities cut shares of General Motors to a buy rating in a research report on Tuesday, December 5th. Barclays reaffirmed a buy rating and set a $61.00 price target on shares of General Motors in a research report on Tuesday, January 9th. Goldman Sachs Group cut shares of General Motors from a neutral rating to a sell rating and decreased their price target for the stock from $43.16 to $32.00 in a research report on Monday, October 30th. Finally, Nomura set a $45.00 price target on shares of General Motors and gave the stock a neutral rating in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $44.32.
Shares of General Motors (NYSE GM) opened at $42.00 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.76 and a debt-to-equity ratio of 1.86. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76. The firm has a market cap of $59,660.00, a price-to-earnings ratio of -1,400.00, a P/E/G ratio of 0.66 and a beta of 1.59.
The company 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. The ex-dividend date is Thursday, March 8th. This represents a $1.52 dividend on an annualized basis and a yield of 3.62%. General Motors’s dividend payout ratio is currently -5,066.67%.
In other news, insider Barry L. Engle II sold 50,443 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total value of $2,269,935.00. Following the sale, the insider now owns 57,091 shares in the company, valued at approximately $2,569,095. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Stefan Jacoby sold 37,961 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the completion of the sale, the executive vice president now owns 98,340 shares in the company, valued at approximately $4,215,835.80. The disclosure for this sale can be found here. Insiders sold a total of 168,847 shares of company stock worth $7,363,108 in the last quarter. 0.04% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of GM. Macquarie Group Ltd. raised its stake in shares of General Motors by 11.0% in the 2nd quarter. Macquarie Group Ltd. now owns 79,000 shares of the auto manufacturer’s stock valued at $2,759,000 after purchasing an additional 7,800 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of General Motors by 99.6% in the 2nd quarter. Westwood Holdings Group Inc. now owns 17,665 shares of the auto manufacturer’s stock valued at $617,000 after purchasing an additional 8,815 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of General Motors in the 2nd quarter valued at about $209,000. Cetera Investment Advisers raised its stake in shares of General Motors by 7.2% in the 2nd quarter. Cetera Investment Advisers now owns 17,425 shares of the auto manufacturer’s stock valued at $602,000 after purchasing an additional 1,176 shares in the last quarter. Finally, WFG Advisors LP grew its position in shares of General Motors by 1,275.5% during the 2nd quarter. WFG Advisors LP now owns 11,884 shares of the auto manufacturer’s stock valued at $415,000 after buying an additional 11,020 shares during the last quarter. Institutional investors and hedge funds own 73.38% of the company’s stock.
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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