General Motors (NYSE:GM) Price Target Raised to $38.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target upped by Wells Fargo & Company from $33.00 to $38.00 in a research report report published on Wednesday, Benzinga reports. They currently have an underweight rating on the auto manufacturer’s stock.

Several other research firms have also recently weighed in on GM. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of General Motors in a research note on Wednesday, October 9th. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. UBS Group boosted their target price on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Barclays raised their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Price Performance

NYSE:GM opened at $52.07 on Wednesday. The business’s 50-day simple moving average is $47.68 and its two-hundred day simple moving average is $46.13. General Motors has a 52 week low of $26.30 and a 52 week high of $54.29. The stock has a market cap of $59.41 billion, a PE ratio of 6.37, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly 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 15.77% and a net margin of 6.22%. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the previous year, the firm earned $2.28 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. As a group, analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. General Motors’s dividend payout ratio is 5.87%.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Motors

A number of institutional investors and hedge funds have recently bought and sold shares of GM. ACR Alpine Capital Research LLC grew its position in shares of General Motors by 8.4% during the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after buying an additional 492,693 shares in the last quarter. BDF Gestion purchased a new stake in General Motors in the second quarter worth about $2,886,000. Atomi Financial Group Inc. bought a new position in General Motors during the 1st quarter worth about $244,000. Cetera Investment Advisers increased its position in General Motors by 98.5% during the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock valued at $14,993,000 after purchasing an additional 164,083 shares during the period. Finally, Susquehanna International Group Ltd. bought a new stake in shares of General Motors in the 2nd quarter valued at about $636,000. 92.67% of the stock is owned by 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.