General Motors (NYSE:GM) Price Target Raised to $60.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target boosted by Wedbush from $55.00 to $60.00 in a report issued on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the auto manufacturer’s stock. Wedbush also issued estimates for General Motors’ Q4 2024 earnings at $1.66 EPS, FY2024 earnings at $10.39 EPS, Q2 2025 earnings at $2.70 EPS, Q4 2025 earnings at $2.19 EPS and FY2025 earnings at $10.41 EPS.

Several other research firms also recently weighed in on GM. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Barclays lifted their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein downgraded shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target for the company. in a research note on Monday, September 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 price target on shares of General Motors in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $56.92.

General Motors Stock Down 1.2 %

Shares of NYSE:GM opened at $52.07 on Wednesday. General Motors has a 1 year low of $26.30 and a 1 year high of $54.29. The business has a 50 day simple moving average of $47.68 and a two-hundred day simple moving average of $46.13. The firm has a market capitalization of $59.41 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) 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 business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the previous year, the business earned $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts predict that General Motors will post 9.95 EPS for the current year.

General Motors Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.87%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Mary T. Barra sold 506,824 shares of the business’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 sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 9,307 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 531,228 shares of company stock valued at $28,267,714. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On General Motors

A number of large investors have recently made changes to their positions in the stock. SteelPeak Wealth LLC purchased a new stake in General Motors in the third quarter valued at $251,000. Pinnacle Associates Ltd. raised its position in shares of General Motors by 10.5% in the third quarter. Pinnacle Associates Ltd. now owns 41,753 shares of the auto manufacturer’s stock worth $1,872,000 after acquiring an additional 3,980 shares during the period. First Trust Direct Indexing L.P. raised its position in shares of General Motors by 0.8% in the third quarter. First Trust Direct Indexing L.P. now owns 36,727 shares of the auto manufacturer’s stock worth $1,647,000 after acquiring an additional 282 shares during the period. Donald Smith & CO. Inc. raised its position in shares of General Motors by 12.1% in the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after acquiring an additional 175,860 shares during the period. Finally, Highline Wealth Partners LLC acquired a new position in shares of General Motors in the third quarter worth about $543,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.