General Motors (NYSE:GM) Hits New 52-Week High – Here’s Why

General Motors Company (NYSE:GM) (TSE:GMM.U) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $70.68 and last traded at $70.7160, with a volume of 5129092 shares. The stock had previously closed at $68.84.

Analysts Set New Price Targets

GM has been the subject of a number of research reports. Cowen reissued a “buy” rating on shares of General Motors in a research note on Tuesday, October 21st. Mizuho set a $76.00 price target on General Motors in a research report on Wednesday, October 22nd. UBS Group upped their price objective on General Motors from $81.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Weiss Ratings cut General Motors from a “buy (b-)” rating to a “hold (c)” rating in a report on Saturday, October 25th. Finally, Wedbush set a $75.00 target price on shares of General Motors and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $70.00.

General Motors Trading Up 2.7%

The company has a quick ratio of 1.06, a current ratio of 1.23 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $65.97 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.96 and a beta of 1.41. The stock’s fifty day moving average price is $61.06 and its two-hundred day moving average price is $54.37.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.48. The company had revenue of $48.59 billion for the quarter, compared to the consensus estimate of $44.60 billion. General Motors had a return on equity of 12.29% and a net margin of 1.62%.General Motors’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.96 EPS. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Sell-side analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s payout ratio is presently 12.07%.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 260,600 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total value of $17,316,870.00. Following the sale, the president owned 98,006 shares in the company, valued at approximately $6,512,498.70. This represents a 72.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Hatto sold 36,804 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $55.10, for a total value of $2,027,900.40. Following the completion of the sale, the chief accounting officer directly owned 12,007 shares in the company, valued at approximately $661,585.70. This represents a 75.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,327,144 shares of company stock worth $139,521,852. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of General Motors

Institutional investors and hedge funds have recently bought and sold shares of the company. Hemington Wealth Management boosted its holdings in shares of General Motors by 14.5% in the third quarter. Hemington Wealth Management now owns 1,219 shares of the auto manufacturer’s stock worth $74,000 after buying an additional 154 shares during the last quarter. Fielder Capital Group LLC lifted its holdings in General Motors by 3.3% during the third quarter. Fielder Capital Group LLC now owns 5,131 shares of the auto manufacturer’s stock valued at $313,000 after purchasing an additional 163 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in shares of General Motors by 3.4% in the third quarter. Resonant Capital Advisors LLC now owns 5,222 shares of the auto manufacturer’s stock worth $318,000 after purchasing an additional 171 shares in the last quarter. Sowell Financial Services LLC lifted its stake in General Motors by 2.9% in the 2nd quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer’s stock worth $336,000 after purchasing an additional 195 shares in the last quarter. Finally, Unison Advisors LLC increased its holdings in shares of General Motors by 0.3% in the third quarter. Unison Advisors LLC now owns 68,272 shares of the auto manufacturer’s stock worth $4,163,000 after purchasing an additional 196 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

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.