General Motors (NYSE:GM) Cut to “Hold” at DZ Bank

12 Oct 2024, 08:58 by Scott Moore · The Cerbat Gem

DZ Bank lowered shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) from a buy rating to a hold rating in a research note issued to investors on Friday, MarketBeat reports. The firm currently has $49.00 price target on the auto manufacturer’s stock.

A number of other research firms have also issued reports on GM. StockNews.com lowered shares of General Motors from a buy rating to a hold rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft restated a hold rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price target on General Motors from $60.00 to $61.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. Morgan Stanley lowered General Motors from an equal weight rating to an underweight rating and decreased their price target for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the stock a buy rating in a report on Tuesday, October 1st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors presently has an average rating of Hold and an average price target of $55.16.

Read Our Latest Research Report on GM

General Motors Price Performance

Shares of NYSE:GM opened at $47.87 on Friday. 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 $53.80 billion, a price-to-earnings ratio of 5.38, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The business’s 50 day simple moving average is $46.27 and its 200-day simple moving average is $45.79. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last posted its 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 firm had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.91 EPS. As a group, equities analysts forecast that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Friday, September 6th. General Motors’s payout ratio is currently 5.39%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of General Motors

Several hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors during the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the second quarter worth approximately $28,000. Fortitude Family Office LLC grew its position in 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 purchasing an additional 225 shares in the last quarter. Montag A & Associates Inc. acquired a new position in General Motors in the 1st quarter valued at approximately $30,000. Finally, EdgeRock Capital LLC purchased a new stake in General Motors in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Company Profile

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