General Motors (NYSE:GM) Upgraded at Nomura Securities

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

A number of other analysts have also weighed in on the stock. Nomura lowered shares of General Motors from a neutral rating to a reduce rating and set a $34.00 price objective on the stock. in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of General Motors from $60.00 to $61.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. Barclays increased their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an overweight rating in a research note on Friday, April 26th. Piper Sandler increased their price objective on shares of General Motors from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. Finally, StockNews.com lowered shares of General Motors from a buy rating to a hold rating in a research note on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $55.27.

General Motors Trading Up 5.1 %

Shares of General Motors stock opened at $42.73 on Monday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The firm has a market capitalization of $48.75 billion, a price-to-earnings ratio of 5.22, a PEG ratio of 0.44 and a beta of 1.43. The firm’s 50 day simple moving average is $46.21 and its two-hundred day simple moving average is $43.39.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 EPS. Analysts predict that General Motors will post 9.94 EPS for the current year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s payout ratio is 5.87%.

General Motors declared that its board has authorized a stock buyback program on Tuesday, June 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at General Motors

In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now directly owns 162,049 shares in the company, valued at $7,455,874.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

Hedge funds and other institutional investors have recently bought and sold shares of the company. LifeSteps Financial Inc. acquired a new stake in General Motors during the first quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the second quarter valued at about $28,000. Fortitude Family Office LLC increased its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after acquiring an additional 225 shares during the last quarter. Montag A & Associates Inc. acquired a new stake in shares of General Motors during the first quarter valued at about $30,000. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of General Motors during the first quarter valued at about $32,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.