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

Shares of General Motors (NYSE:GM) (TSE:GMM.U) have received an average rating of “Hold” from the twenty-one ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, five have given a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $54.92.

Several brokerages have recently commented on GM. Sanford C. Bernstein cut General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price on the stock. in a report on Monday, September 23rd. JPMorgan Chase & Co. raised 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a report on Monday, August 5th. Finally, Bank of America reaffirmed a “buy” rating and set a $75.00 price objective on shares of General Motors in a report on Wednesday, June 12th.

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 approximately $11,551,173.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul A. Jacobson purchased 25,000 shares of General Motors stock in a transaction on Friday, July 26th. The shares were purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. LifeSteps Financial Inc. bought a new position in General Motors in the first quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors in the second quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the second quarter worth $28,000. Fortitude Family Office LLC raised its position in 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 acquiring an additional 225 shares in the last quarter. Finally, Cape Investment Advisory Inc. lifted its stake in General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 1.5 %

Shares of General Motors stock opened at $46.48 on Monday. The stock has a market capitalization 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 12-month low of $26.30 and a 12-month high of $50.50. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The company 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 announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 EPS. Research analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has approved a stock buyback program on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

General Motors Dividend Announcement

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

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.