General Motors (NYSE:GM) Given Average Rating of “Hold” by Brokerages

General Motors (NYSE:GM) (TSE:GMM.U) has received an average rating of “Hold” from the twenty-two ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $59.58.

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Wedbush increased their target price on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. UBS Group boosted their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This represents a 51.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,030,475 shares of company stock worth $56,509,286. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP grew its position in shares of 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 acquiring an additional 205 shares in the last quarter. Avestar Capital LLC boosted its holdings in General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after purchasing an additional 213 shares during the period. Continuum Advisory LLC increased its stake in General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after purchasing an additional 213 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of General Motors by 0.6% during the third quarter. Metis Global Partners LLC now owns 36,240 shares of the auto manufacturer’s stock worth $1,625,000 after purchasing an additional 230 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of General Motors by 4.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,002 shares of the auto manufacturer’s stock worth $234,000 after buying an additional 233 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of NYSE:GM opened at $51.77 on Wednesday. The firm has a market capitalization of $56.93 billion, a price-to-earnings ratio of 5.52, a price-to-earnings-growth ratio of 0.40 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The business’s 50 day simple moving average is $53.94 and its 200-day simple moving average is $49.35. General Motors has a 12 month low of $34.32 and a 12 month high of $61.24.

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

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.48 annualized dividend and a yield of 0.93%. General Motors’s dividend payout ratio is currently 5.12%.

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.