Trading Report: Today, General Motors Co. (GM) Stock Rating Upgrade by Vetr Inc.

Today, General Motors Co. (GM) Stock Rating Upgrade by Vetr Inc.

General Motors Co. (NYSE:GM) (TSE:GMM.U) was upgraded by equities research analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday. The firm currently has a $33.71 price target on the auto manufacturer’s stock. Vetr‘s price target suggests a potential downside of 0.44% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Morgan Stanley raised General Motors from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $29.00 to $37.00 in a research report on Monday, September 19th. Argus reissued a “hold” rating on shares of General Motors in a research report on Thursday, July 28th. Bank of America Corp. cut General Motors from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $26.69 to $31.60 in a research report on Wednesday, October 26th. Jefferies Group initiated coverage on General Motors in a research report on Tuesday, August 9th. They set a “hold” rating and a $33.00 price objective for the company. Finally, Barclays PLC reissued an “equal weight” rating and set a $66.00 price objective on shares of General Motors in a research report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $36.06.

Shares of General Motors (NYSE:GM) traded up 0.15% on Thursday, reaching $33.86. The company had a trading volume of 8,710,143 shares. The company has a 50-day moving average price of $32.20 and a 200-day moving average price of $31.14. General Motors has a 52-week low of $26.69 and a 52-week high of $36.88. The firm has a market capitalization of $51.61 billion, a PE ratio of 3.87 and a beta of 1.42.

General Motors (NYSE:GM) last issued its quarterly earnings results on Tuesday, October 25th. The auto manufacturer reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.28. General Motors had a return on equity of 23.22% and a net margin of 8.58%. The business had revenue of $42.80 billion for the quarter, compared to the consensus estimate of $39.11 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. General Motors’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts forecast that General Motors will post $6.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 22nd. Stockholders of record on Wednesday, December 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Monday, December 5th. General Motors’s payout ratio is currently 17.41%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in General Motors by 0.4% in the second quarter. Vanguard Group Inc. now owns 86,210,502 shares of the auto manufacturer’s stock valued at $2,439,758,000 after buying an additional 332,564 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in General Motors by 0.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 37,273,340 shares of the auto manufacturer’s stock valued at $1,184,174,000 after buying an additional 101,905 shares in the last quarter. Capital World Investors increased its position in General Motors by 2.3% in the second quarter. Capital World Investors now owns 22,673,792 shares of the auto manufacturer’s stock valued at $641,668,000 after buying an additional 505,600 shares in the last quarter. Janus Capital Management LLC increased its position in General Motors by 38.3% in the second quarter. Janus Capital Management LLC now owns 21,555,499 shares of the auto manufacturer’s stock valued at $610,020,000 after buying an additional 5,969,449 shares in the last quarter. Finally, BlackRock Fund Advisors increased its position in General Motors by 4.2% in the third quarter. BlackRock Fund Advisors now owns 17,186,243 shares of the auto manufacturer’s stock valued at $546,007,000 after buying an additional 692,531 shares in the last quarter. 71.41% of the stock is currently owned by institutional investors and hedge funds.

General Motors Company Profile

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company provides automotive financing services through General Motors Financial Company, Inc (GM Financial). The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and GM Financial.

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