General Motors (NYSE:GM) Price Target Raised to $60.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target raised by Wedbush from $55.00 to $60.00 in a report published on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the auto manufacturer’s stock. Wedbush also issued estimates for General Motors’ Q4 2024 earnings at $1.66 EPS, FY2024 earnings at $10.39 EPS, Q2 2025 earnings at $2.70 EPS, Q4 2025 earnings at $2.19 EPS and FY2025 earnings at $10.41 EPS.

Other equities research analysts have also issued research reports about the stock. Sanford C. Bernstein lowered shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price objective for the company. in a research report on Monday, September 23rd. UBS Group increased their price target on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a research report on Monday, August 5th. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. 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 report on Friday, October 11th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.92.

General Motors Trading Down 1.2 %

Shares of GM opened at $52.07 on Wednesday. General Motors has a twelve month low of $26.30 and a twelve month high of $54.29. The firm has a market capitalization of $58.52 billion, a P/E ratio of 5.55, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42. The company has a current ratio of 1.21, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24. The stock’s fifty day simple moving average is $47.81 and its 200 day simple moving average is $46.20.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the business posted $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that General Motors will post 10.05 earnings per share for the current year.

General Motors Dividend Announcement

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

Insider Activity

In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value 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 approximately $417,307.26. 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 is accessible through this link. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the 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 transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 531,228 shares of company stock worth $28,267,714. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GM. SteelPeak Wealth LLC bought a new stake in shares of General Motors during the 3rd quarter valued at about $251,000. Pinnacle Associates Ltd. boosted its stake in General Motors by 10.5% in the third quarter. Pinnacle Associates Ltd. now owns 41,753 shares of the auto manufacturer’s stock valued at $1,872,000 after acquiring an additional 3,980 shares during the period. First Trust Direct Indexing L.P. grew its holdings in shares of General Motors by 0.8% during the third quarter. First Trust Direct Indexing L.P. now owns 36,727 shares of the auto manufacturer’s stock valued at $1,647,000 after purchasing an additional 282 shares during the last quarter. Donald Smith & CO. Inc. raised its position in shares of General Motors by 12.1% during the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares during the period. Finally, Highline Wealth Partners LLC bought a new stake in shares of General Motors in the 3rd quarter worth approximately $543,000. 92.67% of the stock is currently owned by 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.