General Motors (NYSE:GM) Price Target Increased to $38.00 by Analysts at Wells Fargo & Company

General Motors (NYSE:GM) (TSE:GMM.U) had its target price upped by Wells Fargo & Company from $33.00 to $38.00 in a report published on Wednesday morning, Benzinga reports. They currently have an underweight rating on the auto manufacturer’s stock.

A number of other research analysts also recently weighed in on GM. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lifted their target price on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research report on Monday, August 5th. Finally, Wolfe Research assumed coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.97.

General Motors Price Performance

Shares of NYSE:GM opened at $52.91 on Wednesday. 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 market cap of $60.37 billion, a price-to-earnings ratio of 6.47, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The business has a 50-day simple moving average of $47.52 and a two-hundred day simple moving average of $46.09. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.19.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts expect that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The company 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 dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the transaction, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On General Motors

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its position in General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after purchasing an additional 205 shares during the period. Tandem Capital Management Corp ADV grew its stake in shares of General Motors by 1.7% during the third quarter. Tandem Capital Management Corp ADV now owns 47,571 shares of the auto manufacturer’s stock valued at $2,157,000 after buying an additional 800 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in shares of General Motors by 54.0% in the third quarter. Legacy Capital Group California Inc. now owns 6,801 shares of the auto manufacturer’s stock worth $305,000 after buying an additional 2,384 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of General Motors by 86.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 569,633 shares of the auto manufacturer’s stock worth $25,542,000 after acquiring an additional 264,880 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in General Motors by 4,826.5% during the 3rd quarter. International Assets Investment Management LLC now owns 549,261 shares of the auto manufacturer’s stock valued at $24,629,000 after acquiring an additional 538,112 shares during the period. Institutional investors own 92.67% of the company’s stock.

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.