General Motors (NYSE:GM) Reaches New 1-Year High After Analyst Upgrade

Shares of General Motors (NYSE:GM) (TSE:GMM.U) hit a new 52-week high on Friday after Barclays raised their price target on the stock from $55.00 to $60.00. Barclays currently has an overweight rating on the stock. General Motors traded as high as $46.13 and last traded at $46.07, with a volume of 1920341 shares trading hands. The stock had previously closed at $45.62.

Several other equities research analysts have also commented on GM. Wells Fargo & Company upped their price objective on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research report on Wednesday. Redburn Atlantic initiated coverage on General Motors in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 target price on the stock. The Goldman Sachs Group increased their price objective on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Royal Bank of Canada increased their target price on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and a consensus price target of $54.65.

Insider Activity

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by insiders.

Institutional Trading of General Motors

Hedge funds have recently modified their holdings of the business. Clear Creek Financial Management LLC lifted its stake in shares of General Motors by 14.5% in the first quarter. Clear Creek Financial Management LLC now owns 9,475 shares of the auto manufacturer’s stock valued at $424,000 after purchasing an additional 1,198 shares during the period. Quantum Financial Advisors LLC acquired a new stake in shares of General Motors during the 1st quarter valued at approximately $221,000. Mesirow Financial Investment Management Inc. acquired a new stake in shares of General Motors in the 1st quarter worth approximately $271,000. Checchi Capital Advisers LLC increased its position in shares of General Motors by 11.5% in the first quarter. Checchi Capital Advisers LLC now owns 7,516 shares of the auto manufacturer’s stock valued at $341,000 after buying an additional 774 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in General Motors by 5.2% during the 1st quarter. Lindbrook Capital LLC now owns 6,853 shares of the auto manufacturer’s stock valued at $311,000 after acquiring an additional 341 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Trading Up 0.9 %

The company has a market cap of $52.54 billion, a price-to-earnings ratio of 5.58, a PEG ratio of 0.52 and a beta of 1.51. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The business’s 50-day simple moving average is $42.13 and its 200-day simple moving average is $36.19.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the company earned $2.21 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Research analysts predict that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

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.