General Motors (NYSE:GM) Downgraded 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 report published on Wednesday morning,Zacks.com reports.

Several other research firms have also recently weighed in on GM. Sanford C. Bernstein raised their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Wells Fargo & Company boosted their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday, October 23rd. Barclays increased their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” 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 target for the company. in a research note on Wednesday. Finally, The Goldman Sachs Group increased their target price on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $58.85.

General Motors Price Performance

NYSE:GM opened at $52.30 on Wednesday. The firm has a market capitalization of $57.51 billion, a price-to-earnings ratio of 5.58, a P/E/G 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 stock has a fifty day moving average of $52.86 and a 200 day moving average of $48.58. General Motors has a 52-week low of $32.83 and a 52-week high of $61.24.

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

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,030,475 shares of company stock valued at $56,509,286. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

A number of hedge funds and other institutional investors have recently bought and sold shares of GM. Allworth Financial LP grew 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 acquiring an additional 205 shares during the period. Avestar Capital LLC lifted its holdings in General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after purchasing an additional 213 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after purchasing an additional 213 shares during the period. SeaCrest Wealth Management LLC increased its stake 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 worth $316,000 after purchasing an additional 227 shares in the last quarter. Finally, Institute for Wealth Management LLC. raised its position 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. Hedge funds and other institutional investors 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.