General Motors (NYSE:GM) Upgraded by Nomura Securities to Strong Sell

Nomura Securities upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) to a strong sell rating in a research note issued to investors on Monday, Zacks.com reports.

Several other research analysts have also recently commented on the company. Royal Bank of Canada boosted their target price on General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a research note on Tuesday, April 23rd. Sanford C. Bernstein initiated coverage on shares of General Motors in a research note on Thursday, April 25th. They set an outperform rating and a $55.00 target price on the stock. Wedbush reaffirmed an outperform rating and issued a $55.00 target price on shares of General Motors in a report on Wednesday, July 24th. Barclays boosted their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an overweight rating in a report on Friday, April 26th. Finally, UBS Group raised their price objective on shares of General Motors from $61.00 to $64.00 and gave the company a buy rating in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $55.27.

General Motors Trading Up 1.7 %

NYSE:GM traded up $0.66 on Monday, reaching $40.61. 14,493,898 shares of the company’s stock were exchanged, compared to its average volume of 16,038,117. The business has a fifty day moving average of $46.32 and a 200-day moving average of $43.38. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The firm has a market capitalization of $46.33 billion, a price-to-earnings ratio of 4.96, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the prior year, the firm earned $1.91 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts expect that General Motors will post 9.94 earnings per share for the current year.

General Motors announced that its Board of Directors has authorized a stock repurchase program on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.18%. General Motors’s dividend payout ratio is presently 5.87%.

Insider Buying and Selling

In related news, CFO Paul A. Jacobson bought 25,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $11,551,173.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction 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 acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. Insiders have sold a total of 1,152,621 shares of company stock valued at $51,818,111 over the last quarter. 0.72% of the stock is currently owned by insiders.

Institutional Trading of General Motors

Hedge funds have recently modified their holdings of the business. Private Trust Co. NA boosted its position in shares of General Motors by 9.1% during the 4th quarter. Private Trust Co. NA now owns 6,017 shares of the auto manufacturer’s stock worth $216,000 after purchasing an additional 500 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in General Motors by 2,458.6% during the fourth quarter. International Assets Investment Management LLC now owns 646,566 shares of the auto manufacturer’s stock worth $23,225,000 after buying an additional 621,296 shares in the last quarter. Allworth Financial LP grew its position in General Motors by 43.7% during the fourth quarter. Allworth Financial LP now owns 3,490 shares of the auto manufacturer’s stock worth $125,000 after buying an additional 1,062 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in General Motors by 15.9% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 16,164 shares of the auto manufacturer’s stock valued at $581,000 after buying an additional 2,218 shares in the last quarter. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of General Motors during the 4th quarter valued at approximately $249,000. 92.67% of the stock is owned by institutional investors and hedge funds.

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.