General Motors (NYSE:GM) Coverage Initiated by Analysts at TD Cowen

TD Cowen assumed coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $105.00 target price on the auto manufacturer’s stock.

Several other brokerages have also commented on GM. Mizuho upped their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and increased their price target for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $62.22.

General Motors Stock Up 0.4 %

Shares of General Motors stock opened at $47.39 on Friday. General Motors has a one year low of $38.94 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock’s 50-day moving average is $49.70 and its 200 day moving average is $50.44. The firm has a market cap of $47.16 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities research analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th 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 1.01%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is 7.80%.

General Motors announced that its Board of Directors has approved a share buyback plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of General Motors

A number of institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in General Motors by 20.4% in the third quarter. Farther Finance Advisors LLC now owns 6,021 shares of the auto manufacturer’s stock worth $270,000 after buying an additional 1,019 shares during the last quarter. Van ECK Associates Corp increased its position in General Motors by 6.0% in the third quarter. Van ECK Associates Corp now owns 35,384 shares of the auto manufacturer’s stock worth $1,587,000 after buying an additional 2,015 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in General Motors in the third quarter worth $27,000. Principal Financial Group Inc. increased its position in General Motors by 1.1% in the third quarter. Principal Financial Group Inc. now owns 1,268,096 shares of the auto manufacturer’s stock worth $56,861,000 after buying an additional 13,206 shares during the last quarter. Finally, Summit Global Investments increased its position in General Motors by 81.4% in the third quarter. Summit Global Investments now owns 9,336 shares of the auto manufacturer’s stock worth $419,000 after buying an additional 4,188 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.