Investment Analysts’ Weekly Ratings Updates for General Motors (GM)

A number of research firms have changed their ratings and price targets for General Motors (NYSE: GM):

• 7/24/2024 – General Motors had its price target raised by analysts at Wells Fargo & Company from $32.00 to $34.00. They now have an “underweight” rating on the stock.
• 7/24/2024 – General Motors had its price target raised by analysts at JPMorgan Chase & Co. from $60.00 to $61.00. They now have an “overweight” rating on the stock.
• 7/24/2024 – General Motors had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $55.00 price target on the stock.
• 7/24/2024 – General Motors was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/24/2024 – General Motors was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $47.00 price target on the stock, up previously from $46.00.
• 7/10/2024 – General Motors had its price target raised by analysts at UBS Group AG from $61.00 to $64.00. They now have a “buy” rating on the stock.
• 6/25/2024 – General Motors had its price target raised by analysts at Wells Fargo & Company from $30.00 to $32.00. They now have an “underweight” rating on the stock.
• 6/20/2024 – General Motors had its price target raised by analysts at UBS Group AG from $58.00 to $61.00. They now have a “buy” rating on the stock.
• 6/12/2024 – General Motors had its “buy” rating reaffirmed by analysts at Bank of America Co.. They now have a $75.00 price target on the stock.
• 6/1/2024 – General Motors was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

General Motors Trading Up 0.2 %

Shares of General Motors stock traded up $0.09 on Monday, hitting $44.21. The stock had a trading volume of 4,963,762 shares, compared to its average volume of 15,944,354. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a one year low of $26.30 and a one year high of $50.50. The stock has a market cap of $49.69 billion, a price-to-earnings ratio of 5.40, a PEG ratio of 0.44 and a beta of 1.43. The stock’s 50-day simple moving average is $46.49 and its two-hundred day simple moving average is $43.06.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its 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. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. During the same quarter last year, the business earned $1.91 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that General Motors will post 9.93 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, September 6th. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling

In related news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 326,305 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the sale, the chief executive officer now directly owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock valued at $51,818,111 over the last quarter. 0.72% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Motors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors raised its position in shares of General Motors by 38.4% in the 2nd quarter. Arkadios Wealth Advisors now owns 9,426 shares of the auto manufacturer’s stock worth $438,000 after purchasing an additional 2,617 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in General Motors by 25.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,456 shares of the auto manufacturer’s stock worth $68,000 after buying an additional 291 shares in the last quarter. HB Wealth Management LLC increased its holdings in General Motors by 17.2% in the 2nd quarter. HB Wealth Management LLC now owns 19,382 shares of the auto manufacturer’s stock worth $901,000 after buying an additional 2,850 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in General Motors by 4.8% in the 2nd quarter. Checchi Capital Advisers LLC now owns 7,874 shares of the auto manufacturer’s stock worth $366,000 after buying an additional 358 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of General Motors by 6.5% during the 2nd quarter. Harbour Investments Inc. now owns 12,355 shares of the auto manufacturer’s stock valued at $574,000 after purchasing an additional 759 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.