General Motors (NYSE:GM) Given Average Rating of “Hold” by Analysts

General Motors (NYSE:GM) (TSE:GMM.U) has earned a consensus rating of “Hold” from the twenty-one brokerages that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $54.92.

A number of brokerages have issued reports on GM. Bank of America reiterated a “buy” rating and set a $75.00 price objective on shares of General Motors in a research note on Wednesday, June 12th. UBS Group lifted their price objective on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wolfe Research assumed coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $47.00 to $42.00 in a research note on Wednesday, September 25th.

General Motors Trading Up 1.5 %

Shares of GM stock opened at $46.48 on Monday. The stock has a market cap of $53.03 billion, a P/E ratio of 5.68, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a 50 day simple moving average of $46.02 and a 200 day simple moving average of $45.55.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same period in the prior year, the company posted $1.91 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, research analysts predict that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a $0.12 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.03%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors declared that its Board of Directors has initiated a share buyback program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction dated Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

Institutional Trading of General Motors

Large investors have recently modified their holdings of the stock. LifeSteps Financial Inc. bought a new position in General Motors during the first quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors in the 2nd quarter valued at about $28,000. Fortitude Family Office LLC increased its position in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares in the last quarter. Finally, Montag A & Associates Inc. acquired a new position in General Motors during the 1st quarter worth approximately $30,000. Institutional investors and hedge funds 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.