Posted by Defense World Staff on Mar 16th, 2024
Piper Sandler began coverage on shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) in a report published on Friday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $44.00 price target on the auto manufacturer’s stock.
GM has been the topic of several other reports. Wolfe Research raised General Motors from a peer perform rating to an outperform rating and set a $42.00 price target on the stock in a research report on Thursday, January 4th. Barclays upped their target price on shares of General Motors from $37.00 to $44.00 and gave the company an overweight rating in a research note on Wednesday, January 24th. Mizuho upgraded shares of General Motors from a neutral rating to a buy rating and raised their price target for the stock from $38.00 to $42.00 in a research report on Monday, December 4th. Wells Fargo & Company upped their price objective on shares of General Motors from $27.00 to $28.00 and gave the company an underweight rating in a research report on Wednesday, January 31st. Finally, Tigress Financial lifted their target price on General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $50.29.
Get Our Latest Stock Analysis on General Motors
General Motors Price Performance
NYSE GM opened at $40.69 on Friday. General Motors has a 1 year low of $26.30 and a 1 year high of $41.80. The company has a fifty day simple moving average of $38.12 and a 200 day simple moving average of $33.98. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The company has a market cap of $46.97 billion, a P/E ratio of 5.57, a P/E/G ratio of 0.50 and a beta of 1.50.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last released its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. The firm had revenue of $42.98 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.12 EPS. On average, sell-side analysts predict that General Motors will post 9 EPS for the current year.
General Motors Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, March 1st were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, February 29th. This is a boost from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.18%. General Motors’s dividend payout ratio (DPR) is presently 6.57%.
Insider Transactions at General Motors
In other news, EVP Gerald Johnson sold 15,190 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the sale, the executive vice president now owns 98,628 shares of the company’s stock, valued at $3,948,078.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gerald Johnson sold 15,190 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the sale, the executive vice president now owns 98,628 shares of the company’s stock, valued at approximately $3,948,078.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,526 shares of company stock valued at $1,757,472. 0.54% of the stock is owned by insiders.
Institutional Trading of General Motors
Several hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC increased its position in General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 283 shares during the period. VisionPoint Advisory Group LLC bought a new stake in shares of General Motors during the second quarter worth approximately $25,000. Highlander Capital Management LLC acquired a new position in General Motors in the fourth quarter valued at approximately $27,000. SouthState Corp boosted its stake in General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in General Motors during the 4th quarter worth $29,000. 79.62% of the stock is 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.
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