General Motors Company (GM) Earns Buy Rating from Piper Jaffray Companies

Piper Jaffray Companies reissued their buy rating on shares of General Motors Company (NYSE:GM) (TSE:GMM.U) in a research report sent to investors on Wednesday morning. They currently have a $44.00 price target on the auto manufacturer’s stock.

GM has been the topic of a number of other reports. Berenberg Bank set a $31.00 target price on shares of General Motors and gave the company a sell rating in a research note on Thursday, March 16th. Tigress Financial reaffirmed a strong-buy rating on shares of General Motors in a research note on Thursday, March 30th. Zacks Investment Research downgraded shares of General Motors from a strong-buy rating to a hold rating in a research note on Tuesday, March 14th. Jefferies Group LLC reaffirmed a buy rating and issued a $36.00 target price on shares of General Motors in a research note on Tuesday, June 13th. Finally, Evercore ISI reaffirmed an in-line rating and issued a $40.00 target price on shares of General Motors in a research note on Thursday, March 30th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $39.50.

Shares of General Motors (GM) traded up 0.08% during trading on Wednesday, hitting $36.38. 10,631,762 shares of the stock traded hands. The stock has a 50-day moving average of $33.94 and a 200 day moving average of $35.33. General Motors has a 1-year low of $29.82 and a 1-year high of $38.55. The company has a market cap of $54.90 billion, a P/E ratio of 5.63 and a beta of 1.45.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Friday, April 28th. The auto manufacturer reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.25. General Motors had a net margin of 5.92% and a return on equity of 22.82%. The company had revenue of $41.20 billion during the quarter, compared to analyst estimates of $37.38 billion. During the same period last year, the business earned $1.26 earnings per share. General Motors’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts predict that General Motors will post $6.04 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 9th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Wednesday, June 7th. General Motors’s dividend payout ratio is presently 23.53%.

In related news, Director Jane L. Mendillo purchased 1,520 shares of the stock in a transaction dated Friday, May 26th. The stock was purchased at an average price of $32.92 per share, with a total value of $50,038.40. Following the transaction, the director now directly owns 3,120 shares in the company, valued at $102,710.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John J. Quattrone sold 15,000 shares of General Motors stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $35.00, for a total value of $525,000.00. Following the completion of the transaction, the insider now directly owns 42,623 shares of the company’s stock, valued at approximately $1,491,805. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,158 shares of company stock valued at $4,643,312. 0.04% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of GM. Alpha Windward LLC raised its position in General Motors by 0.4% in the first quarter. Alpha Windward LLC now owns 5,417 shares of the auto manufacturer’s stock valued at $192,000 after buying an additional 21 shares in the last quarter. North Star Investment Management Corp. raised its position in General Motors by 0.8% in the first quarter. North Star Investment Management Corp. now owns 5,215 shares of the auto manufacturer’s stock valued at $184,000 after buying an additional 42 shares in the last quarter. Spectrum Asset Management Inc. NB CA raised its position in General Motors by 1.5% in the first quarter. Spectrum Asset Management Inc. NB CA now owns 6,850 shares of the auto manufacturer’s stock valued at $242,000 after buying an additional 100 shares in the last quarter. Telemus Capital LLC raised its position in General Motors by 1.3% in the first quarter. Telemus Capital LLC now owns 8,193 shares of the auto manufacturer’s stock valued at $290,000 after buying an additional 102 shares in the last quarter. Finally, Foster & Motley Inc. raised its position in General Motors by 1.1% in the first quarter. Foster & Motley Inc. now owns 11,159 shares of the auto manufacturer’s stock valued at $395,000 after buying an additional 116 shares in the last quarter. 73.50% of the stock is owned by hedge funds and other institutional investors.

General Motors Company Profile

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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