General Motors (NYSE:GM) Receives Average Rating of “Hold” from Brokerages

Shares of General Motors (NYSE:GM) (TSE:GMM.U) have received an average rating of “Hold” from the twenty-two research firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $62.89.

A number of equities research analysts have weighed in on the company. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. TD Cowen assumed coverage on General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price objective for the company. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Cowen assumed coverage on General Motors in a research note on Thursday, March 6th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group set a $73.00 target price on General Motors in a report on Saturday, March 1st.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.72% of the stock is owned by company insiders.

Institutional Trading of General Motors

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in shares of General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after purchasing an additional 1,510 shares during the period. SYM FINANCIAL Corp acquired a new position in shares of General Motors during the 4th quarter valued at $474,000. Asset Management One Co. Ltd. increased its position in shares of General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after purchasing an additional 39,474 shares during the period. Avantra Family Wealth Inc. acquired a new position in shares of General Motors during the 4th quarter valued at $1,044,000. Finally, Handelsbanken Fonder AB increased its position in shares of General Motors by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after purchasing an additional 19,924 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

GM stock opened at $48.34 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The firm has a market cap of $48.10 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The stock has a 50-day simple moving average of $49.23 and a 200-day simple moving average of $50.48.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, equities analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

General Motors announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.