General Motors (NYSE:GM) Cut to “Hold” at DZ Bank

DZ Bank downgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a buy rating to a hold rating in a research note issued to investors on Friday, Marketbeat Ratings reports. DZ Bank currently has $49.00 price objective on the auto manufacturer’s stock.

Other research analysts have also issued research reports about the company. Royal Bank of Canada restated an outperform rating and issued a $54.00 target price on shares of General Motors in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on General Motors from $60.00 to $61.00 and gave the company an overweight rating in a report on Wednesday, July 24th. StockNews.com lowered General Motors from a buy rating to a hold rating in a report on Wednesday, July 24th. Morgan Stanley lowered General Motors from an equal weight rating to an underweight rating and dropped their target price for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. Finally, UBS Group raised their target price on General Motors from $61.00 to $64.00 and gave the company a buy rating in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Motors presently has an average rating of Hold and a consensus target price of $55.16.

General Motors Trading Up 1.6 %

NYSE GM opened at $48.65 on Friday. The business has a 50 day simple moving average of $46.45 and a 200 day simple moving average of $45.83. General Motors has a one year low of $26.30 and a one year high of $50.50. The stock has a market capitalization of $55.51 billion, a P/E ratio of 5.95, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 earnings per share. Research analysts expect that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s payout ratio is 5.87%.

Insider Activity at General Motors

In related news, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Hedge funds and other institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP boosted its holdings in shares of General Motors by 317.6% in the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after purchasing an additional 51,571 shares in the last quarter. ACR Alpine Capital Research LLC boosted its holdings in General Motors by 8.4% during the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after acquiring an additional 492,693 shares during the period. BDF Gestion purchased a new stake in General Motors during the 2nd quarter valued at about $2,886,000. Atomi Financial Group Inc. purchased a new stake in General Motors during the 1st quarter valued at about $244,000. Finally, Cetera Investment Advisers boosted its holdings in General Motors by 98.5% during the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock valued at $14,993,000 after acquiring an additional 164,083 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.