General Motors Company (GM) Given New $40.00 Price Target at Jefferies Group LLC

General Motors Company (NYSE:GM) (TSE:GMM.U) had its price objective increased by Jefferies Group LLC from $36.00 to $40.00 in a report issued on Monday. The firm currently has a hold rating on the auto manufacturer’s stock. Jefferies Group also issued estimates for General Motors’ FY2017 earnings at $6.28 EPS, FY2019 earnings at $5.21 EPS, FY2020 earnings at $5.46 EPS and FY2021 earnings at $4.87 EPS.

Several other brokerages have also commented on GM. Morgan Stanley lowered shares of General Motors from an overweight rating to an equal weight rating and lowered their price objective for the stock from $46.48 to $43.00 in a research report on Wednesday, October 25th. Royal Bank Of Canada lifted their price objective on shares of General Motors from $44.00 to $51.00 and gave the stock a sector perform rating in a research report on Wednesday, October 25th. Craig Hallum set a $45.00 price objective on shares of General Motors and gave the stock a hold rating in a research report on Wednesday, October 25th. BMO Capital Markets raised shares of General Motors to a market perform rating and lifted their price objective for the stock from $41.00 to $48.00 in a research report on Wednesday, October 25th. Finally, Deutsche Bank AG lifted their price objective on shares of General Motors from $51.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday, October 25th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $43.37.

Shares of General Motors (NYSE:GM) traded down 0.90% on Monday, reaching $42.98. 13,238,535 shares of the company were exchanged. The firm has a market capitalization of $62.63 billion, a PE ratio of 7.47 and a beta of 1.44. The company’s 50 day moving average is $42.49 and its 200 day moving average is $36.79. General Motors has a 12-month low of $30.21 and a 12-month high of $46.76.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, topping the consensus estimate of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to analyst estimates of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Analysts forecast that General Motors will post $6.30 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Friday, December 8th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.52 dividend on an annualized basis and a yield of 3.54%. General Motors’s dividend payout ratio is presently 77.95%.

In other General Motors news, insider Alicia S. Boler-Davis sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nysschen Carel J. De sold 123,645 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $44.59, for a total transaction of $5,513,330.55. Following the completion of the transaction, the executive vice president now directly owns 150,484 shares of the company’s stock, valued at approximately $6,710,081.56. The disclosure for this sale can be found here. In the last three months, insiders sold 979,266 shares of company stock valued at $40,917,634. Corporate insiders own 0.04% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in GM. Waldron LP grew its stake in General Motors by 13.6% in the 1st quarter. Waldron LP now owns 8,132 shares of the auto manufacturer’s stock worth $287,000 after buying an additional 975 shares in the last quarter. Eliot Finkel Investment Counsel LLC boosted its stake in shares of General Motors by 12.1% in the 1st quarter. Eliot Finkel Investment Counsel LLC now owns 154,240 shares of the auto manufacturer’s stock valued at $5,454,000 after purchasing an additional 16,700 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of General Motors by 171.9% in the 1st quarter. SRS Capital Advisors Inc. now owns 5,160 shares of the auto manufacturer’s stock valued at $182,000 after purchasing an additional 3,262 shares in the last quarter. Accident Compensation Corp purchased a new stake in shares of General Motors in the 1st quarter valued at $559,000. Finally, Legal & General Group Plc boosted its stake in shares of General Motors by 3.3% in the 1st quarter. Legal & General Group Plc now owns 7,618,441 shares of the auto manufacturer’s stock valued at $269,387,000 after purchasing an additional 246,770 shares in the last quarter. 72.83% of the stock is owned by institutional investors and hedge funds.

About General Motors

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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