General Motors (NYSE:GM) Downgraded to “Hold” Rating by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a buy rating to a hold rating in a research report released on Monday morning, MarketBeat.com reports. The firm currently has $43.00 price objective on the auto manufacturer’s stock.

GM has been the subject of several other research reports. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. UBS Group restated a “neutral” rating and set a $51.00 target price (down previously from $64.00) on shares of General Motors in a research note on Thursday, April 10th. TD Cowen began coverage on shares of General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price target for the company. Sanford C. Bernstein cut shares of General Motors from a “market perform” rating to an “underperform” rating and dropped their target price for the stock from $50.00 to $35.00 in a report on Monday, April 7th. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.39.

General Motors Stock Performance

Shares of GM opened at $45.05 on Monday. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The stock has a market cap of $44.82 billion, a P/E ratio of 7.33, a P/E/G ratio of 0.67 and a beta of 1.27. The business’s 50 day moving average price is $47.31 and its 200-day moving average price is $50.38.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities research analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has approved a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Motors

Large investors have recently added to or reduced their stakes in the stock. Olstein Capital Management L.P. boosted its stake in shares of General Motors by 18.0% during the 1st quarter. Olstein Capital Management L.P. now owns 144,000 shares of the auto manufacturer’s stock worth $6,772,000 after purchasing an additional 22,000 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of General Motors by 285.4% during the first quarter. Pallas Capital Advisors LLC now owns 65,454 shares of the auto manufacturer’s stock valued at $3,078,000 after buying an additional 48,471 shares during the last quarter. Cetera Trust Company N.A raised its holdings in shares of General Motors by 9.3% in the first quarter. Cetera Trust Company N.A now owns 37,609 shares of the auto manufacturer’s stock worth $1,769,000 after buying an additional 3,200 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of General Motors by 88.7% during the 1st quarter. Farther Finance Advisors LLC now owns 16,509 shares of the auto manufacturer’s stock worth $780,000 after acquiring an additional 7,761 shares during the last quarter. Finally, CHICAGO TRUST Co NA boosted its holdings in General Motors by 3.3% during the 1st quarter. CHICAGO TRUST Co NA now owns 15,859 shares of the auto manufacturer’s stock valued at $746,000 after acquiring an additional 510 shares during the period. 92.67% of the stock is owned by institutional investors.

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.