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

General Motors (NYSE:GM) (TSE:GMM.U) has received a consensus recommendation of “Hold” from the twenty-one research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $56.92.

Several equities analysts recently issued reports on the company. Sanford C. Bernstein upped their target price on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Barclays lifted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research note on Monday, August 5th.

Insider Buying and Selling

In other news, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 18.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the firm’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 completion of the transaction, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 653,511 shares of company stock worth $35,012,844 in the last 90 days. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

Several hedge funds and other institutional investors have recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors in the second quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors during the 3rd quarter valued at about $27,000. Truvestments Capital LLC acquired a new position in General Motors in the 3rd quarter valued at about $27,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors during the second quarter worth about $28,000. Finally, Fortitude Family Office LLC lifted its position in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Down 1.4 %

General Motors stock opened at $56.26 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The stock has a market cap of $61.86 billion, a PE ratio of 6.00, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The stock has a 50-day moving average of $49.90 and a two-hundred day moving average of $47.40. General Motors has a one year low of $27.70 and a one year high of $59.39.

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

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.85%. General Motors’s dividend payout ratio (DPR) is 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.