General Motors (NYSE:GM) Reaches New 1-Year High – Here’s Why

General Motors (NYSE:GM) (TSE:GMM.U)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $58.26 and last traded at $57.88, with a volume of 727926 shares trading hands. The stock had previously closed at $57.66.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GM. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Nomura Securities raised General Motors to a “strong sell” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company raised their price target on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.92.

General Motors Stock Up 0.1 %

The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The company has a market cap of $63.48 billion, a P/E ratio of 6.14, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40. The company has a fifty day moving average of $48.97 and a 200 day moving average of $46.98.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, research analysts anticipate that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Insider Activity

In related news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 653,511 shares of company stock worth $35,012,844 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Atomi Financial Group Inc. purchased a new position in General Motors during the 1st quarter worth $244,000. US Bancorp DE boosted its position in shares of General Motors by 1.6% in the 1st quarter. US Bancorp DE now owns 88,246 shares of the auto manufacturer’s stock worth $4,002,000 after purchasing an additional 1,358 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of General Motors by 7.8% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 959,085 shares of the auto manufacturer’s stock worth $43,494,000 after purchasing an additional 69,017 shares in the last quarter. WP Advisors LLC boosted its position in shares of General Motors by 9.3% in the 1st quarter. WP Advisors LLC now owns 8,230 shares of the auto manufacturer’s stock worth $373,000 after purchasing an additional 698 shares in the last quarter. Finally, Rogco LP lifted its position in General Motors by 35.3% during the 1st quarter. Rogco LP now owns 4,618 shares of the auto manufacturer’s stock worth $209,000 after acquiring an additional 1,206 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.