General Motors (NYSE:GM) Research Coverage Started at TD Cowen

TD Cowen assumed coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note published on Friday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $105.00 price target on the auto manufacturer’s stock.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.22.

General Motors Price Performance

NYSE:GM opened at $47.39 on Friday. 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 business’s 50-day moving average price is $49.70 and its 200 day moving average price is $50.50. General Motors has a 52-week low of $38.94 and a 52-week high of $61.24. The firm has a market cap of $47.16 billion, a P/E ratio of 7.71, a PEG ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, sell-side analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

General Motors announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Motors

A number of large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in shares of General Motors in the fourth quarter worth about $25,000. Crews Bank & Trust bought a new position in shares of General Motors in the 4th quarter valued at approximately $26,000. Measured Risk Portfolios Inc. bought a new position in shares of General Motors in the 4th quarter valued at approximately $27,000. Compass Planning Associates Inc acquired a new stake in General Motors in the 4th quarter worth approximately $27,000. Finally, Whittier Trust Co. boosted its position in General Motors by 551.9% during the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 425 shares during the period. 92.67% of the stock is currently 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.