General Motors (NYSE:GM) PT Raised to $65.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective upped by Royal Bank of Canada from $58.00 to $65.00 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the auto manufacturer’s stock.

A number of other brokerages also recently commented on GM. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 target price on shares of General Motors in a research note on Tuesday, September 10th. The Goldman Sachs Group upped their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Barclays upped their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wolfe Research began coverage on General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Stock Down 1.2 %

General Motors stock opened at $52.07 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.21. The business’s 50-day simple moving average is $47.81 and its two-hundred day simple moving average is $46.20. The company has a market cap of $58.52 billion, a PE ratio of 5.55, a PEG ratio of 0.60 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 posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.28 EPS. Equities analysts anticipate that General Motors will post 10.05 EPS for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. General Motors’s payout ratio is currently 5.12%.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This trade represents 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 this link. In related news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This trade represents 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 this link. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 531,228 shares of company stock valued at $28,267,714 over the last quarter. 0.72% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new position in General Motors in the second quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new position in General Motors in the second quarter worth approximately $28,000. Fortitude Family Office LLC grew its position in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the period. Montag A & Associates Inc. purchased a new position in General Motors in the first quarter worth approximately $30,000. Finally, EdgeRock Capital LLC purchased a new position in General Motors in the second quarter worth approximately $33,000. 92.67% of the stock is currently 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.