General Motors (NYSE:GM) Upgraded to Overweight at Barclays

Barclays upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from an equal weight rating to an overweight rating in a research report sent to investors on Friday morning, Marketbeat Ratings reports. Barclays currently has $73.00 price objective on the auto manufacturer’s stock, up from their prior price objective of $55.00.

Other equities analysts also recently issued reports about the stock. UBS Group increased their price objective on shares of General Motors from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a research note on Friday, July 11th. Piper Sandler restated a “neutral” rating and issued a $48.00 target price (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Royal Bank Of Canada restated an “outperform” rating on shares of General Motors in a research note on Thursday, July 24th. Finally, Citigroup raised their target price on shares of General Motors from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, General Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

General Motors Stock Performance

Shares of NYSE:GM opened at $58.51 on Friday. The firm has a market cap of $55.71 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.32. The firm’s 50 day simple moving average is $55.09 and its 200-day simple moving average is $50.32. General Motors has a one year low of $41.60 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. During the same period last year, the firm earned $3.06 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, equities analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. General Motors’s payout ratio is presently 9.52%.

Insider Buying and Selling at General Motors

In other news, CAO Christopher Hatto sold 36,804 shares of General Motors stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total value of $2,027,900.40. Following the sale, the chief accounting officer owned 12,007 shares in the company, valued at $661,585.70. This trade represents a 75.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mary T. Barra sold 907,024 shares of General Motors stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $58.24, for a total transaction of $52,825,077.76. Following the completion of the sale, the chief executive officer owned 552,238 shares in the company, valued at approximately $32,162,341.12. This trade represents a 62.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,070,311 shares of company stock valued at $62,095,433. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

A number of institutional investors and hedge funds have recently bought and sold shares of GM. Vanguard Group Inc. boosted its position in General Motors by 11.5% during the second quarter. Vanguard Group Inc. now owns 110,759,703 shares of the auto manufacturer’s stock worth $5,450,485,000 after acquiring an additional 11,418,367 shares during the last quarter. Norges Bank acquired a new position in General Motors during the second quarter worth about $444,319,000. AQR Capital Management LLC boosted its position in General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock worth $629,196,000 after acquiring an additional 8,012,743 shares during the last quarter. Viking Global Investors LP boosted its position in General Motors by 81.1% during the second quarter. Viking Global Investors LP now owns 13,018,874 shares of the auto manufacturer’s stock worth $640,659,000 after acquiring an additional 5,830,050 shares during the last quarter. Finally, Nuveen LLC acquired a new position in General Motors in the 1st quarter valued at about $175,889,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.