General Motors (NYSE:GM) Receives $56.92 Consensus PT from Brokerages

General Motors (NYSE:GM) (TSE:GMM.U) has earned an average recommendation of “Hold” from the twenty-one research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $56.92.

Several analysts have commented on GM shares. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. The Goldman Sachs Group raised their target price on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 122,283 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This represents a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 653,511 shares of company stock worth $35,012,844. Company insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

A number of hedge funds have recently bought and sold shares of GM. Capital World Investors lifted its stake in shares of General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the last quarter. Swedbank AB purchased a new stake in shares of General Motors during the first quarter valued at about $159,750,000. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of General Motors by 972.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after buying an additional 1,906,964 shares in the last quarter. Jennison Associates LLC grew its position in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after buying an additional 1,779,897 shares during the last quarter. Finally, Artemis Investment Management LLP raised its stake in shares of General Motors by 581.4% during the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after acquiring an additional 1,366,768 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Trading Down 1.4 %

Shares of GM stock opened at $56.26 on Tuesday. The stock has a fifty day simple moving average of $49.90 and a two-hundred day simple moving average of $47.40. General Motors has a 52-week low of $27.70 and a 52-week high of $59.39. The firm has a market capitalization of $61.86 billion, a PE ratio of 6.00, a PEG ratio of 0.43 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.28 EPS. On average, analysts predict that General Motors will post 10.35 EPS for the current fiscal year.

General Motors Dividend Announcement

The business 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

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.