Brokerages Set General Motors (NYSE:GM) PT at $57.74

Shares of General Motors (NYSE:GM) (TSE:GMM.U) have been assigned an average rating of “Hold” from the twenty research firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, six have given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $58.26.

A number of research firms recently weighed in on GM. Mizuho upped their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday. Wells Fargo & Company upped their target price 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Morgan Stanley lowered shares of General Motors from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Finally, DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th.

General Motors Stock Performance

NYSE GM opened at $52.74 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a fifty-two week low of $32.83 and a fifty-two week high of $61.24. The stock has a market cap of $57.99 billion, a PE ratio of 5.62, a PEG ratio of 0.40 and a beta of 1.42. The firm’s fifty day moving average price is $52.41 and its two-hundred day moving average price is $48.47.

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

General Motors Announces Dividend

The business also recently disclosed 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 0.91%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 5.12%.

Insider Activity

In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction 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 transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Motors

A number of large investors have recently added to or reduced their stakes in GM. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of General Motors by 972.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of General Motors by 123.1% during the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after purchasing an additional 1,779,897 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of General Motors by 581.4% during the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after purchasing an additional 1,366,768 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of General Motors by 158.8% during the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after purchasing an additional 1,332,450 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares in the last quarter. 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.