General Motors (NYSE:GM) Earns “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research report released on Wednesday morning, Benzinga reports. Wedbush currently has a $55.00 price objective on the auto manufacturer’s stock.

A number of other research analysts have also recently weighed in on GM. Nomura Securities raised shares of General Motors to a strong sell rating in a research report on Monday, August 5th. Bank of America reissued a buy rating and set a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. JPMorgan Chase & Co. boosted their target price on shares of General Motors from $60.00 to $61.00 and gave the stock an overweight rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of General Motors from a buy rating to a hold rating in a report on Wednesday, July 24th. Finally, UBS Group upped their price objective on shares of General Motors from $61.00 to $64.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, General Motors has an average rating of Hold and a consensus target price of $55.16.

General Motors Price Performance

General Motors stock 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 company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The firm has a 50 day moving average price of $46.27 and a 200 day moving average price of $45.79. The company has a market cap of $53.80 billion, a price-to-earnings ratio of 5.38, a PEG ratio of 0.56 and a beta of 1.42.

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

General Motors Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction that occurred 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 directly owns 10,356 shares in the company, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Paul A. Jacobson acquired 25,000 shares of General Motors stock in a transaction dated Friday, July 26th. The shares were bought at an average cost 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. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. LM Advisors LLC acquired a new position in General Motors during the fourth quarter valued at $306,000. Point72 Italy S.r.l. acquired a new stake in shares of General Motors during the fourth quarter worth approximately $13,218,000. SRS Investment Management LLC acquired a new stake in shares of General Motors during the fourth quarter worth approximately $33,240,000. Cobalt Capital Management Inc. acquired a new position in General Motors in the 4th quarter valued at approximately $4,490,000. Finally, Coatue Management LLC purchased a new position in shares of General Motors during the 4th quarter valued at $57,328,000. 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.