General Motors’ (GM) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a report published on Wednesday morning, Benzinga reports. They currently have a $55.00 price target on the auto manufacturer’s stock.

A number of other analysts also recently commented on GM. Nomura downgraded General Motors from a neutral rating to a reduce rating and set a $34.00 price objective for the company. in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on shares of General Motors from $60.00 to $61.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. Sanford C. Bernstein cut shares of General Motors from an outperform rating to a market perform rating and set a $53.00 price objective for the company. in a research note on Monday, September 23rd. StockNews.com lowered shares of General Motors from a buy rating to a hold rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $55.16.

General Motors Stock Up 0.4 %

GM opened at $47.87 on Wednesday. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50. The business has a 50 day moving average of $46.27 and a 200-day moving average of $45.79. The stock has a market capitalization of $53.80 billion, a price-to-earnings ratio of 5.38, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business posted $1.91 EPS. As a group, sell-side analysts anticipate that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Friday, September 6th. General Motors’s dividend payout ratio is currently 5.39%.

Insider Activity at General Motors

In related news, CFO Paul A. Jacobson purchased 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Motors

A number of large investors have recently modified their holdings of the business. Capital World Investors raised its holdings in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after acquiring an additional 6,201,777 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of General Motors by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after purchasing an additional 135,717 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of General Motors by 9.2% in 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 buying an additional 1,091,137 shares during the last quarter. LSV Asset Management grew its stake in shares of General Motors by 2.6% in the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after buying an additional 223,260 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in General Motors by 0.4% during the fourth quarter. Fisher Asset Management LLC now owns 6,492,719 shares of the auto manufacturer’s stock worth $233,219,000 after buying an additional 26,260 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.