General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Several other equities analysts also recently commented on the company. The Goldman Sachs Group upped their price objective on General Motors from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Tigress Financial reaffirmed a “strong-buy” rating and issued a $86.00 price objective on shares of General Motors in a research report on Friday, July 28th. Morgan Stanley upped their price objective on General Motors from $38.00 to $41.00 in a research report on Thursday, July 6th. Jefferies Financial Group upped their price objective on General Motors from $37.00 to $39.00 in a research report on Friday, July 7th. Finally, Barclays upped their price objective on General Motors from $42.00 to $46.00 in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.67.
View Our Latest Stock Analysis on GM
General Motors Stock Performance
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $44.75 billion for the quarter, compared to the consensus estimate of $42.13 billion. General Motors had a return on equity of 16.70% and a net margin of 6.05%. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 EPS. Sell-side analysts predict that General Motors will post 7.59 earnings per share for the current year.
Insider Buying and Selling
In related news, President Mark L. Reuss sold 9,300 shares of the company’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $41.00, for a total transaction of $381,300.00. Following the completion of the sale, the president now directly owns 282,973 shares in the company, valued at approximately $11,601,893. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On General Motors
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Bank Julius Baer & Co. Ltd Zurich raised its stake in General Motors by 94,113.4% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 16,754,917 shares of the auto manufacturer’s stock valued at $646,070,000 after buying an additional 16,737,133 shares during the last quarter. Norges Bank acquired a new position in shares of General Motors in the fourth quarter valued at about $493,248,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of General Motors by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 22,349,234 shares of the auto manufacturer’s stock valued at $819,770,000 after purchasing an additional 7,585,746 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of General Motors by 80.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock valued at $538,747,000 after purchasing an additional 6,548,022 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of General Motors by 60.5% in the first quarter. Franklin Resources Inc. now owns 15,784,315 shares of the auto manufacturer’s stock valued at $578,969,000 after purchasing an additional 5,948,464 shares during the period. 79.62% of the stock is currently owned by hedge funds and other institutional investors.
About General Motors
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.
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