Analysts Set General Motors (NYSE:GM) Price Target at $58.70

General Motors (NYSE:GM) (TSE:GMM.U) has received an average rating of “Hold” from the twenty-two research firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $58.70.

GM has been the subject of several recent analyst reports. Barclays raised their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted 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 note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $53.00 target price on shares of General Motors in a research report on Tuesday, September 10th. UBS Group lifted their price target on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada increased their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $459,787.13. This trade represents a 52.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction 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 completion of the transaction, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. The trade was a 49.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,030,475 shares of company stock worth $56,509,286. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GM. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the second quarter worth approximately $25,000. Catalyst Capital Advisors LLC bought a new stake in General Motors in the third quarter worth $27,000. Truvestments Capital LLC purchased a new stake in General Motors during the third quarter valued at about $27,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the second quarter valued at about $28,000. Finally, Eastern Bank purchased a new position in shares of General Motors in the third quarter worth about $34,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

GM stock opened at $51.77 on Wednesday. The stock has a market cap of $56.93 billion, a price-to-earnings ratio of 5.52, a P/E/G ratio of 0.40 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The company has a 50 day simple moving average of $53.95 and a 200 day simple moving average of $49.29. General Motors has a 1 year low of $34.32 and a 1 year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly 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. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.28 earnings per share. Research analysts anticipate that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Friday, December 6th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

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.