General Motors (NYSE:GM) Receives $59.33 Average PT from Analysts

Shares of General Motors (NYSE:GM) (TSE:GMM.U) have been given an average recommendation of “Hold” by the twenty-two brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $56.72.

Several equities research analysts have recently weighed in on GM shares. Piper Sandler increased their target price on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Mizuho decreased their target price on General Motors from $63.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, April 10th. TD Cowen assumed coverage on shares of General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price objective on the stock. Barclays downgraded shares of General Motors from an “overweight” rating to a “negative” rating in a report on Tuesday. Finally, UBS Group reissued a “neutral” rating and issued a $51.00 price objective (down previously from $64.00) on shares of General Motors in a research report on Thursday, April 10th.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. MML Investors Services LLC raised its position in shares of General Motors by 3.0% in the 3rd quarter. MML Investors Services LLC now owns 139,000 shares of the auto manufacturer’s stock worth $6,233,000 after buying an additional 4,023 shares during the period. Continuum Advisory LLC raised its holdings in General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after acquiring an additional 213 shares in the last quarter. M&T Bank Corp lifted its position in shares of General Motors by 1.4% during the third quarter. M&T Bank Corp now owns 63,141 shares of the auto manufacturer’s stock worth $2,831,000 after purchasing an additional 852 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of General Motors by 23.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 19,885 shares of the auto manufacturer’s stock worth $955,000 after buying an additional 3,817 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in General Motors by 17.9% during the 3rd quarter. Toronto Dominion Bank now owns 526,107 shares of the auto manufacturer’s stock worth $23,591,000 after buying an additional 79,958 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of NYSE:GM opened at $44.55 on Friday. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The business has a 50-day simple moving average of $47.24 and a two-hundred day simple moving average of $50.34. The firm has a market cap of $44.33 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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%. On average, analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

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 dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.08%. General Motors’s dividend payout ratio is presently 7.80%.

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.