Brokerages Set General Motors (NYSE:GM) Target Price at $59.33

Shares of General Motors (NYSE:GM) (TSE:GMM.U) have been given an average rating of “Hold” by the twenty-two analysts that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $56.72.

A number of research firms have issued reports on GM. Barclays downgraded General Motors from an “overweight” rating to a “negative” rating in a research note on Tuesday. Mizuho reduced their price target on shares of General Motors from $63.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. lowered their price objective on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. The Goldman Sachs Group reduced their target price on shares of General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, TD Cowen started coverage on shares of General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 price target for the company.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Hedge funds and other institutional investors have recently modified their holdings of the business. Kaydan Wealth Management Inc. raised its stake in General Motors by 21.6% in the first quarter. Kaydan Wealth Management Inc. now owns 25,199 shares of the auto manufacturer’s stock worth $1,185,000 after buying an additional 4,475 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of General Motors by 40.1% in the 1st quarter. QRG Capital Management Inc. now owns 364,840 shares of the auto manufacturer’s stock valued at $17,158,000 after acquiring an additional 104,433 shares during the period. Sagespring Wealth Partners LLC raised its position in shares of General Motors by 11.2% in the 1st quarter. Sagespring Wealth Partners LLC now owns 10,170 shares of the auto manufacturer’s stock worth $478,000 after acquiring an additional 1,028 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of General Motors during the 1st quarter worth $312,000. Finally, Janney Montgomery Scott LLC boosted its position in General Motors by 2.0% during the first quarter. Janney Montgomery Scott LLC now owns 402,861 shares of the auto manufacturer’s stock valued at $18,947,000 after purchasing an additional 8,026 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Up 0.7 %

NYSE GM opened at $44.55 on Friday. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a market cap of $44.32 billion, a PE ratio of 7.24, a P/E/G ratio of 0.67 and a beta of 1.27. The stock’s 50 day moving average is $47.14 and its 200 day moving average is $50.29.

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

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

General Motors declared that its board has approved a stock repurchase program on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

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.