General Motors (NYSE:GM) Downgraded to “Hold” Rating by Hsbc Global Res

Hsbc Global Res cut shares of General Motors (NYSE:GM) (TSE:GMM.U) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Wolfe Research assumed coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. The Goldman Sachs Group raised their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $46.00 to $54.00 in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. Finally, Mizuho upped their target price on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $58.85.

General Motors Price Performance

General Motors stock opened at $52.52 on Wednesday. The stock has a market cap of $57.75 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.39 and a beta of 1.42. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The business has a 50-day simple moving average of $52.86 and a 200 day simple moving average of $48.58. General Motors has a 52 week low of $34.32 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. General Motors’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.28 earnings per share. On average, research analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.91%. General Motors’s payout ratio is presently 5.12%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the sale, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock valued at $56,509,286 in the last 90 days. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in General Motors by 0.5% during the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after acquiring an additional 106,878 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of General Motors by 6.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after purchasing an additional 989,750 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after purchasing an additional 135,717 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after buying an additional 1,091,137 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after buying an additional 421,989 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.