General Motors (NYSE:GM) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a hold rating to a buy rating in a report released on Thursday.

Other research analysts have also issued reports about the stock. Royal Bank of Canada lifted their price target on shares of General Motors from $54.00 to $56.00 and gave the company an overweight rating in a report on Tuesday, April 23rd. TheStreet raised shares of General Motors from a c+ rating to a b- rating in a report on Tuesday, March 19th. The Goldman Sachs Group lifted their price target on shares of General Motors from $45.00 to $50.00 and gave the company a buy rating in a report on Wednesday, January 31st. Wedbush lifted their price target on shares of General Motors from $45.00 to $55.00 and gave the company an outperform rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of General Motors from $28.00 to $30.00 and gave the company an underweight rating in a report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $54.65.

General Motors Price Performance

Shares of GM stock opened at $45.84 on Thursday. The firm has a market cap of $52.30 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.53 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. General Motors has a 1-year low of $26.30 and a 1-year high of $46.17. The firm has a fifty day moving average of $42.27 and a two-hundred day moving average of $36.32.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $2.21 EPS. As a group, research analysts anticipate that General Motors will post 9.45 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity at General Motors

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

Hedge Funds Weigh In On General Motors

A number of hedge funds have recently modified their holdings of GM. Handelsbanken Fonder AB boosted its position in shares of General Motors by 18.5% in the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after buying an additional 74,194 shares during the period. Cerity Partners LLC raised its holdings in General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after buying an additional 93,754 shares in the last quarter. Foundry Partners LLC increased its stake in shares of General Motors by 15.0% in the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after purchasing an additional 51,336 shares during the period. Public Sector Pension Investment Board increased its stake in shares of General Motors by 10.5% in the third quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after purchasing an additional 14,002 shares during the period. Finally, AM Squared Ltd increased its stake in shares of General Motors by 195.0% in the fourth quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock worth $1,483,000 after purchasing an additional 27,300 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.