General Motors (NYSE:GM) (TSE:GMM.U) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, January 9th.
According to Zacks, “General Motors outperformed the industry it belongs to over the last six months. The company’s capital allocation strategy, initiatives to make its vehicles more advanced, safer and fuel efficient and focus on technology development are likely to benefit. Moreover, the company's focus on capital deployment is expected to boost shareholder returns. Its restructuring activities are also expected to benefit in the long run. Also, the company is raising investment in emerging markets to boost global sales. It is trying to take advantage of emerging markets growth via product launches and joint ventures.”
Several other equities analysts have also recently issued reports on the company. Jefferies Group boosted their target price on General Motors from $36.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, October 30th. Standpoint Research cut General Motors from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Citigroup reissued a “buy” rating and issued a $53.00 target price on shares of General Motors in a report on Monday, October 2nd. Goldman Sachs Group downgraded General Motors from a “neutral” rating to a “sell” rating and lowered their price target for the company from $43.16 to $32.00 in a report on Monday, October 30th. Finally, Guggenheim raised General Motors from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Monday, November 20th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $44.07.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.25. The company had revenue of $30.48 billion during the quarter, compared to analysts’ expectations of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. General Motors’s quarterly revenue was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.72 earnings per share. research analysts anticipate that General Motors will post 6.41 EPS for the current fiscal year.
In other news, insider Barry L. Engle II sold 50,443 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,569,095. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark L. Reuss sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $43.09, for a total value of $1,292,700.00. Following the completion of the transaction, the insider now owns 103,052 shares in the company, valued at $4,440,510.68. The disclosure for this sale can be found here. Insiders sold a total of 602,741 shares of company stock valued at $26,678,072 in the last ninety days. 0.04% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Berkshire Hathaway Inc. lifted its stake in General Motors by 20.0% during the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after purchasing an additional 10,000,000 shares in the last quarter. Swiss National Bank raised its stake in shares of General Motors by 1.6% in the third quarter. Swiss National Bank now owns 5,006,857 shares of the auto manufacturer’s stock valued at $202,177,000 after acquiring an additional 81,000 shares in the last quarter. Alyeska Investment Group L.P. raised its stake in shares of General Motors by 181.5% in the third quarter. Alyeska Investment Group L.P. now owns 1,809,371 shares of the auto manufacturer’s stock valued at $73,062,000 after acquiring an additional 1,166,696 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of General Motors by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock valued at $601,683,000 after acquiring an additional 331,621 shares in the last quarter. Finally, Lehman Financial Resources Inc. raised its stake in shares of General Motors by 6.4% in the third quarter. Lehman Financial Resources Inc. now owns 67,653 shares of the auto manufacturer’s stock valued at $2,731,000 after acquiring an additional 4,050 shares in the last quarter. Institutional investors own 73.02% of the company’s stock.
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About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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