General Motors (NYSE:GM) Lowered to “Hold” Rating by Hsbc Global Res

Hsbc Global Res cut shares of General Motors (NYSE:GM) (TSE:GMM.U) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. Mizuho boosted their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday. Royal Bank of Canada increased their price target on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Wednesday. Barclays boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group raised their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus target price of $58.85.

General Motors Stock Performance

NYSE GM opened at $52.30 on Wednesday. General Motors has a fifty-two week low of $32.83 and a fifty-two week high of $61.24. The stock has a market cap of $57.51 billion, a PE ratio of 5.58, a PEG ratio of 0.39 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The firm’s fifty day moving average price is $52.86 and its two-hundred day moving average price is $48.58.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.28 EPS. On average, equities analysts expect that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.92%. General Motors’s dividend payout ratio (DPR) is 5.12%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,030,475 shares of company stock valued at $56,509,286 in the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

Several hedge funds have recently made changes to their positions in GM. Allworth Financial LP lifted its stake in shares of General Motors by 2.3% during the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after buying an additional 205 shares in the last quarter. Avestar Capital LLC raised its holdings in General Motors by 2.3% during the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after acquiring an additional 213 shares during the period. Continuum Advisory LLC lifted its position in shares of General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after acquiring an additional 213 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in shares of General Motors by 3.5% in the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after purchasing an additional 227 shares in the last quarter. Finally, Institute for Wealth Management LLC. raised its stake in shares of General Motors by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after purchasing an additional 230 shares during the period. 92.67% of the stock is currently owned by institutional investors.

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.