General Motors (NYSE:GM) Price Target Raised to $70.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective hoisted by JPMorgan Chase & Co. from $64.00 to $70.00 in a report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the auto manufacturer’s stock.

Other equities analysts also recently issued reports about the company. 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. Wolfe Research began coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. UBS Group increased their price objective on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research report on Friday, October 11th. Finally, Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Price Performance

GM opened at $52.07 on Wednesday. General Motors has a 12-month low of $26.30 and a 12-month high of $54.29. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $47.68 and a two-hundred day simple moving average of $46.13. The company has a market cap of $59.41 billion, a price-to-earnings ratio of 6.37, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the company earned $2.28 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. Research analysts predict that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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

Insider Transactions at General Motors

In related 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 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 approximately $37,040,244.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock valued at $28,267,714 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the 2nd quarter worth about $28,000. Fortitude Family Office LLC increased its holdings in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Montag A & Associates Inc. bought a new position in shares of General Motors during the 1st quarter worth about $30,000. Finally, EdgeRock Capital LLC bought a new stake in General Motors in the second quarter valued at about $33,000. Institutional investors and hedge funds 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.