General Motors (GM) Given New $44.00 Price Target at Morgan Stanley
General Motors (NYSE:GM) (TSE:GMM.U) had its target price hoisted by Morgan Stanley from $43.00 to $44.00 in a research report sent to investors on Wednesday morning. The firm currently has an equal weight rating on the auto manufacturer’s stock.
A number of other equities analysts have also recently issued reports on the company. Vetr cut General Motors from a hold rating to a sell rating and set a $40.10 target price for the company. in a report on Tuesday, December 26th. Zacks Investment Research cut General Motors from a hold rating to a sell rating in a report on Tuesday, January 2nd. Barclays reiterated a buy rating and set a $61.00 target price on shares of General Motors in a report on Tuesday, January 9th. Deutsche Bank reiterated a buy rating on shares of General Motors in a report on Friday, November 17th. Finally, Bank of America reiterated a buy rating and set a $57.00 target price on shares of General Motors in a report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $44.44.
General Motors (NYSE:GM) traded down $0.23 during mid-day trading on Wednesday, reaching $41.58. The company’s stock had a trading volume of 1,972,096 shares, compared to its average volume of 13,885,771. The company has a market cap of $58,880.00, a PE ratio of 8.07, a PEG ratio of 0.79 and a beta of 1.59. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.76 and a current ratio of 0.89. General Motors has a 52-week low of $31.92 and a 52-week high of $46.76.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a $0.38 dividend. The ex-dividend date is Thursday, March 8th. This represents a $1.52 annualized dividend and a yield of 3.66%. General Motors’s dividend payout ratio (DPR) is currently 29.51%.
In related news, insider Barry L. Engle II sold 50,443 shares of the firm’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $43.08, for a total value of $2,173,084.44. Following the completion of the sale, the insider now directly owns 57,091 shares in the company, valued at approximately $2,459,480.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stefan Jacoby sold 37,961 shares of the firm’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 of the company’s stock, valued at $4,215,835.80. The disclosure for this sale can be found here. Insiders sold a total of 203,847 shares of company stock valued at $8,793,908 over the last quarter. 0.04% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Swiss National Bank lifted its stake in General Motors by 1.6% in the 3rd quarter. Swiss National Bank now owns 5,006,857 shares of the auto manufacturer’s stock valued at $202,177,000 after purchasing an additional 81,000 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in General Motors by 181.5% during the third quarter. Alyeska Investment Group L.P. now owns 1,809,371 shares of the auto manufacturer’s stock worth $73,062,000 after acquiring an additional 1,166,696 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in General Motors by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock worth $601,683,000 after acquiring an additional 331,621 shares during the last quarter. Lehman Financial Resources Inc. lifted its position in General Motors by 6.4% during the third quarter. Lehman Financial Resources Inc. now owns 67,653 shares of the auto manufacturer’s stock worth $2,731,000 after acquiring an additional 4,050 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in General Motors during the third quarter worth approximately $701,000. Institutional investors and hedge funds own 73.38% 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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