General Motors (GM) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from an equal weight rating to an overweight rating in a report published on Monday morning, Marketbeat reports. Morgan Stanley currently has $45.00 target price on the auto manufacturer’s stock.

GM has been the topic of several other research reports. Vetr lowered General Motors from a hold rating to a sell rating and set a $40.25 price target on the stock. in a research note on Tuesday, February 27th. Goldman Sachs set a $33.00 price target on General Motors and gave the company a sell rating in a research note on Tuesday, February 6th. Royal Bank of Canada upgraded General Motors from a sector perform rating to an outperform rating and raised their price target for the company from $51.00 to $52.00 in a research note on Tuesday, December 19th. Barclays reiterated a buy rating and issued a $60.00 target price on shares of General Motors in a research note on Sunday, January 21st. Finally, Bank of America lifted their target price on General Motors from $57.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $44.65.

Shares of General Motors stock opened at $39.00 on Monday. The firm has a market cap of $53,077.12, a PE ratio of 5.89, a PEG ratio of 0.72 and a beta of 1.63. 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 12 month low of $31.92 and a 12 month high of $46.76.



General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, beating the consensus estimate of $1.34 by $0.31. The firm had revenue of $34.48 billion for the quarter, compared to analyst estimates of $34.28 billion. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 earnings per share. sell-side analysts predict that General Motors will post 6.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Thursday, March 8th. General Motors’s dividend payout ratio is presently 22.96%.

In other General Motors news, CAO Thomas S. Timko sold 8,461 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $42.06, for a total value of $355,869.66. Following the completion of the sale, the chief accounting officer now owns 33,519 shares of the company’s stock, valued at $1,409,809.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Barry L. Engle II sold 50,443 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $45.00, for a total value of $2,269,935.00. Following the completion of the sale, the insider now directly owns 57,091 shares of the company’s stock, valued at approximately $2,569,095. The disclosure for this sale can be found here. In the last three months, insiders sold 40,294,848 shares of company stock valued at $1,600,664,861. Corporate insiders own 0.04% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in shares of General Motors by 26.7% during the fourth quarter. Franklin Resources Inc. now owns 21,868,641 shares of the auto manufacturer’s stock worth $896,398,000 after purchasing an additional 4,611,023 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of General Motors by 1.0% during the fourth quarter. Bank of New York Mellon Corp now owns 11,020,001 shares of the auto manufacturer’s stock worth $451,709,000 after purchasing an additional 110,658 shares during the period. Millennium Management LLC lifted its holdings in shares of General Motors by 78.1% during the fourth quarter. Millennium Management LLC now owns 6,810,691 shares of the auto manufacturer’s stock worth $279,170,000 after purchasing an additional 2,986,293 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of General Motors by 154.4% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,923,200 shares of the auto manufacturer’s stock worth $242,792,000 after purchasing an additional 3,594,700 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of General Motors by 11.7% during the fourth quarter. Clearbridge Investments LLC now owns 5,909,082 shares of the auto manufacturer’s stock worth $242,213,000 after purchasing an additional 616,703 shares during the period. 73.55% of the stock is owned by hedge funds and other institutional investors.

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General Motors Company Profile

General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

Analyst Recommendations for General Motors (NYSE:GM)

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