General Motors’ (GM) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note released on Wednesday, Benzinga reports. They currently have a $55.00 target price on the auto manufacturer’s stock.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on General Motors from $60.00 to $61.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. Wells Fargo & Company cut their price objective on General Motors from $34.00 to $33.00 and set an underweight rating on the stock in a report on Tuesday, September 10th. UBS Group lifted their target price on General Motors from $61.00 to $64.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Royal Bank of Canada lowered their target price on General Motors from $58.00 to $54.00 and set an outperform rating on the stock in a research note on Friday, August 9th. Finally, Bank of America reaffirmed a buy rating and set a $75.00 target price on shares of General Motors in a research note on Wednesday, June 12th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of Hold and an average target price of $55.16.

General Motors Price Performance

Shares of General Motors stock opened at $47.87 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The company’s 50-day moving average price is $46.27 and its two-hundred day moving average price is $45.80. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. The stock has a market cap of $53.80 billion, a PE ratio of 5.38, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.91 EPS. As a group, sell-side analysts anticipate that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s payout ratio is currently 5.39%.

Insiders Place Their Bets

In other General Motors news, CFO Paul A. Jacobson purchased 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. 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 can be accessed through the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. CX Institutional raised its stake in shares of General Motors by 786.6% in the third quarter. CX Institutional now owns 87,591 shares of the auto manufacturer’s stock valued at $3,928,000 after purchasing an additional 77,712 shares in the last quarter. Procyon Advisors LLC raised its stake in shares of General Motors by 2.0% in the third quarter. Procyon Advisors LLC now owns 28,357 shares of the auto manufacturer’s stock valued at $1,272,000 after purchasing an additional 545 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of General Motors by 569.8% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,621 shares of the auto manufacturer’s stock valued at $73,000 after purchasing an additional 1,379 shares in the last quarter. CHICAGO TRUST Co NA grew its position in General Motors by 22.0% in the third quarter. CHICAGO TRUST Co NA now owns 15,206 shares of the auto manufacturer’s stock valued at $682,000 after acquiring an additional 2,744 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in General Motors by 5.6% in the third quarter. Exchange Traded Concepts LLC now owns 198,188 shares of the auto manufacturer’s stock valued at $8,887,000 after acquiring an additional 10,596 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.