General Motors (NYSE:GM) Price Target Cut to $35.00 by Analysts at Wells Fargo & Company

General Motors (NYSE:GM) (TSE:GMM.U) had its price target trimmed by Wells Fargo & Company from $38.00 to $35.00 in a research note published on Monday,Benzinga reports. The firm currently has an underweight rating on the auto manufacturer’s stock.

Several other research analysts have also weighed in on the stock. 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 research report on Monday, December 9th. UBS Group lifted their price objective on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group boosted their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.70.

General Motors Trading Down 0.6 %

Shares of General Motors stock opened at $52.20 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm has a market cap of $57.40 billion, a price-to-earnings ratio of 5.57, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. General Motors has a 52-week low of $34.32 and a 52-week high of $61.24. The company’s 50-day simple moving average is $53.12 and its 200-day simple moving average is $48.78.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period last year, the firm earned $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.92%. General Motors’s dividend payout ratio is presently 5.12%.

Insider Activity

In other General Motors news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction dated 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 transaction, the president now owns 126,907 shares in the company, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock valued at $56,509,286 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Institutional investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL bought a new position in General Motors during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors in the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors during the 2nd quarter valued at $28,000. Truvestments Capital LLC acquired a new stake in General Motors in the 3rd quarter valued at about $27,000. Finally, EdgeRock Capital LLC bought a new stake in General Motors during the second quarter worth approximately $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Company Profile

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.