General Motors (NYSE:GM) Receives $56.92 Average Price Target from Brokerages

Shares of General Motors (NYSE:GM) (TSE:GMM.U) have been given an average rating of “Hold” by the twenty-one analysts that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $56.92.

GM has been the subject of several research analyst reports. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a report on Monday, August 5th. Barclays boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada upped their target price on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Friday, October 11th. Finally, JPMorgan Chase & Co. boosted their price objective on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd.

Insider Activity

In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 653,511 shares of company stock worth $35,012,844. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Motors

Several institutional investors have recently modified their holdings of GM. Atomi Financial Group Inc. bought a new stake in General Motors in the first quarter worth $244,000. US Bancorp DE increased its stake in shares of General Motors by 1.6% during the first quarter. US Bancorp DE now owns 88,246 shares of the auto manufacturer’s stock valued at $4,002,000 after buying an additional 1,358 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in General Motors by 7.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 959,085 shares of the auto manufacturer’s stock worth $43,494,000 after acquiring an additional 69,017 shares during the period. WP Advisors LLC boosted its holdings in General Motors by 9.3% in the first quarter. WP Advisors LLC now owns 8,230 shares of the auto manufacturer’s stock valued at $373,000 after acquiring an additional 698 shares in the last quarter. Finally, Rogco LP raised its holdings in General Motors by 35.3% in the 1st quarter. Rogco LP now owns 4,618 shares of the auto manufacturer’s stock worth $209,000 after purchasing an additional 1,206 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Price Performance

NYSE:GM opened at $57.63 on Tuesday. The stock has a market capitalization of $63.37 billion, a PE ratio of 6.15, a P/E/G ratio of 0.43 and a beta of 1.40. General Motors has a 1-year low of $27.42 and a 1-year high of $59.39. The firm has a fifty day simple moving average of $49.33 and a 200 day simple moving average of $47.13. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

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

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is presently 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.