General Motors Company (GM) Earns “Buy” Rating from Bank of America Corporation

Bank of America Corporation reissued their buy rating on shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in a research note published on Friday. The brokerage currently has a $40.00 target price on the auto manufacturer’s stock, down from their previous target price of $44.00.

A number of other research analysts also recently commented on GM. Nomura reaffirmed a buy rating and set a $47.00 price objective on shares of General Motors Company in a research note on Tuesday, May 2nd. Vetr raised shares of General Motors Company from a buy rating to a strong-buy rating and set a $41.64 price objective for the company in a research note on Monday, March 13th. Zacks Investment Research downgraded shares of General Motors Company from a strong-buy rating to a hold rating in a research note on Tuesday, March 14th. Instinet raised shares of General Motors Company from a neutral rating to a buy rating and upped their price objective for the company from $36.00 to $45.00 in a research note on Monday, March 6th. Finally, BMO Capital Markets reiterated a market perform rating on shares of General Motors Company in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $39.71.

Analyst Recommendations for General Motors Company (NYSE:GM)

Shares of General Motors Company (NYSE:GM) opened at 34.00 on Friday. The stock has a market cap of $51.31 billion, a price-to-earnings ratio of 5.26 and a beta of 1.35. General Motors Company has a one year low of $27.34 and a one year high of $38.55. The company has a 50 day moving average of $33.80 and a 200-day moving average of $35.41.

General Motors Company (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Friday, April 28th. The auto manufacturer reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.25. General Motors Company had a net margin of 5.92% and a return on equity of 22.82%. The firm had revenue of $41.20 billion during the quarter, compared to the consensus estimate of $37.38 billion. During the same quarter in the previous year, the company posted $1.26 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts anticipate that General Motors Company will post $6.05 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 9th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Wednesday, June 7th. General Motors Company’s payout ratio is 23.53%.

In related news, insider Karl-Thomas Neumann sold 46,472 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $32.84, for a total transaction of $1,526,140.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stefan Jacoby sold 2,670 shares of the company’s stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $33.85, for a total value of $90,379.50. Following the sale, the insider now directly owns 83,065 shares in the company, valued at $2,811,750.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,828 shares of company stock worth $4,208,691. 0.04% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. First Heartland Consultants Inc. purchased a new stake in General Motors Company during the third quarter valued at about $215,000. Elgethun Capital Management purchased a new stake in General Motors Company during the fourth quarter valued at about $101,000. State Street Corp raised its stake in General Motors Company by 3.6% in the fourth quarter. State Street Corp now owns 58,170,954 shares of the auto manufacturer’s stock valued at $2,026,671,000 after buying an additional 2,027,963 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in General Motors Company by 6.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 168,976 shares of the auto manufacturer’s stock valued at $5,887,000 after buying an additional 9,562 shares in the last quarter. Finally, Prudential PLC raised its stake in General Motors Company by 6.0% in the fourth quarter. Prudential PLC now owns 6,061,234 shares of the auto manufacturer’s stock valued at $211,174,000 after buying an additional 345,600 shares in the last quarter. 74.70% of the stock is currently owned by institutional investors and hedge funds.

About General Motors Company

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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