General Motors (NYSE:GM) Receives $62.89 Consensus Target Price from Brokerages

Shares of General Motors (NYSE:GM) (TSE:GMM.U) have earned an average rating of “Hold” from the twenty-two ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $63.06.

A number of brokerages recently weighed in on GM. UBS Group reiterated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. TD Cowen started coverage on General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price objective on the stock. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Cowen started coverage on General Motors in a research note on Thursday, March 6th. They set a “buy” rating on the stock.

General Motors Price Performance

Shares of General Motors stock opened at $49.77 on Monday. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The stock has a market capitalization of $49.53 billion, a P/E ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.42. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The business’s fifty day moving average price is $49.02 and its 200 day moving average price is $50.49.

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

General Motors announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Motors

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Trust Point Inc. boosted its position in shares of General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after buying an additional 193 shares during the period. Avestar Capital LLC boosted its position in shares of General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock worth $430,000 after buying an additional 213 shares during the period. Continuum Advisory LLC boosted its position in shares of General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after buying an additional 213 shares during the period. Holistic Planning LLC boosted its position in shares of General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after buying an additional 214 shares during the period. Finally, Nemes Rush Group LLC boosted its position in shares of General Motors by 18.7% during the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer’s stock worth $73,000 after buying an additional 217 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.