Morgan Stanley Downgrades General Motors (NYSE:GM) to Equal Weight

Morgan Stanley lowered shares of General Motors (NYSE:GM) (TSE:GMM.U) from an overweight rating to an equal weight rating in a research report released on Wednesday morning, MarketBeat Ratings reports. Morgan Stanley currently has $47.00 price objective on the auto manufacturer’s stock, up from their previous price objective of $46.00.

Other research analysts have also issued reports about the company. Royal Bank of Canada raised their price target on General Motors from $54.00 to $56.00 and gave the company an overweight rating in a report on Tuesday, April 23rd. Piper Sandler raised their target price on shares of General Motors from $44.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday, April 24th. Mizuho upped their price target on shares of General Motors from $48.00 to $52.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Wedbush raised their price objective on shares of General Motors from $45.00 to $55.00 and gave the company an outperform rating in a research note on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on General Motors from $44.00 to $50.00 and gave the stock a hold rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $56.38.

General Motors Trading Down 0.0 %

General Motors stock opened at $44.12 on Wednesday. The firm has a 50-day moving average price of $46.49 and a two-hundred day moving average price of $43.01. 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 $49.59 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.44 and a beta of 1.43. The company has a quick ratio of 0.97, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that General Motors will post 9.93 earnings per share for the current year.

General Motors announced that its Board of Directors has approved a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Buying and Selling

In related news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of the sale, the chief executive officer now directly owns 898,648 shares in the company, valued at $43,431,657.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,152,621 shares of company stock valued at $51,818,111. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

Several institutional investors have recently made changes to their positions in GM. LifeSteps Financial Inc. bought a new stake in General Motors during the first quarter valued at about $25,000. Fortitude Family Office LLC boosted its stake in General Motors by 56.1% during the 2nd 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 during the period. Montag A & Associates Inc. acquired a new stake in General Motors in the 1st quarter valued at approximately $30,000. YHB Investment Advisors Inc. bought a new position in General Motors in the 1st quarter worth approximately $32,000. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors during the second quarter worth approximately $33,000. 92.67% of the stock is currently 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.