General Motors (NYSE:GM) Downgraded to Hold Rating by Hsbc Global Res

Hsbc Global Res lowered shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on GM. HSBC cut 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. Morgan Stanley raised General Motors from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday. DZ Bank lowered General Motors from a "buy" rating to a "hold" rating and set a $49.00 target price for the company. in a research report on Friday, October 11th. UBS Group increased their price target on General Motors from $58.00 to $62.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Sanford C. Bernstein lifted their price objective on General Motors from $53.00 to $55.00 and gave the company a "market perform" rating in a report on Friday, October 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given 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 price target of $58.85.

General Motors Trading Up 0.4 %

NYSE:GM traded up $0.22 during midday trading on Wednesday, hitting $52.52. 8,847,767 shares of the company traded hands, compared to its average volume of 14,725,391. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The firm's fifty day moving average is $52.86 and its 200-day moving average is $48.58. The firm has a market capitalization of $57.75 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.39 and a beta of 1.42. General Motors has a 12-month low of $34.32 and a 12-month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the business earned $2.28 EPS. The business's revenue was up 10.5% on a year-over-year basis. On average, sell-side analysts predict that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors's dividend payout ratio is presently 5.12%.

Insider Activity

In related news, EVP Craig B. Glidden sold 383,142 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares in the company, valued at $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares of the company's stock, valued at $7,000,190.12. This represents a 49.07 % 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 worth $56,509,286 over the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

A number of hedge funds and other institutional investors have recently made changes to their positions in GM. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the 2nd quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors in the third quarter worth about $27,000. Truvestments Capital LLC acquired a new position in shares of General Motors in the third quarter worth about $27,000. Wellington Shields Capital Management LLC purchased a new stake in shares of General Motors during the 2nd quarter worth about $28,000. Finally, EdgeRock Capital LLC purchased a new position in shares of General Motors in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 92.67% of the company's stock.

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.