Brokerages Set General Motors (NYSE:GM) PT at $55.35

General Motors (NYSE:GM) (TSE:GMM.U) has been assigned an average recommendation of “Hold” from the twenty-one analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $56.82.

GM has been the topic of several research reports. Royal Bank of Canada boosted their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a report on Wednesday. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wedbush boosted their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday.

General Motors Stock Performance

General Motors stock opened at $52.70 on Friday. The firm’s fifty day moving average price is $47.52 and its 200-day moving average price is $46.09. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The stock has a market cap of $60.13 billion, a P/E ratio of 6.44, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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 net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter last year, the company earned $2.28 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts expect that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity

In related news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other General Motors 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 completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mary T. Barra sold 506,824 shares of the firm’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 transaction of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 531,228 shares of company stock worth $28,267,714. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Institutional investors have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors in the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC boosted its position 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 valued at $29,000 after acquiring an additional 225 shares during the last quarter. Montag A & Associates Inc. acquired a new position in shares of General Motors during the 1st quarter valued at about $30,000. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors during the 2nd quarter valued at about $33,000. 92.67% of the stock is owned by hedge funds and other 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.