General Motors (NYSE:GM) Coverage Initiated by Analysts at TD Cowen

TD Cowen assumed coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note released on Friday, Marketbeat reports. The brokerage issued a buy rating and a $105.00 price objective on the auto manufacturer’s stock.

Several other brokerages have also recently weighed in on GM. Wells Fargo & Company reaffirmed an “underweight” 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. Mizuho lifted their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.22.

General Motors Stock Performance

NYSE:GM opened at $47.39 on Friday. The stock has a market cap of $47.16 billion, a P/E ratio of 7.71, a PEG ratio of 0.67 and a beta of 1.42. The stock has a 50 day simple moving average of $49.70 and a 200 day simple moving average of $50.44. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 1-year low of $38.94 and a 1-year high of $61.24.

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

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. General Motors’s dividend payout ratio is currently 7.80%.

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

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The shares were acquired 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 of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Motors

Hedge funds and other institutional investors have recently bought and sold shares of the company. Trust Point Inc. lifted its holdings in General Motors by 2.7% during the 4th 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 lifted its holdings in General Motors by 2.3% during the 3rd 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 lifted its holdings in General Motors by 7.9% during the 3rd 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 lifted its holdings in General Motors by 3.9% during the 4th 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 lifted its holdings in General Motors by 18.7% during the 4th 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. Institutional investors own 92.67% of the company’s stock.

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.