Brokerages Set General Motors (NYSE:GM) Price Target at $62.89

General Motors (NYSE:GM) (TSE:GMM.U) has received an average recommendation of “Hold” from the twenty-two research firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $63.06.

A number of equities research analysts have recently issued reports on the stock. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Mizuho boosted their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. UBS Group reissued a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, TD Cowen assumed coverage on shares of General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price target on the stock.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

Several institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its position in General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock worth $1,559,380,000 after buying an additional 1,170,816 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of General Motors by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after purchasing an additional 176,436 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in shares of General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after purchasing an additional 989,750 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of General Motors by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer’s stock worth $749,382,000 after purchasing an additional 228,408 shares during the period. Finally, Norges Bank acquired a new position in shares of General Motors during the 4th quarter worth $592,321,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of GM stock opened at $49.77 on Monday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm’s 50-day moving average is $49.02 and its two-hundred day moving average is $50.46. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a market capitalization of $49.53 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

General Motors announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.