General Motors (NYSE:GM) Upgraded by StockNews.com to Buy

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

Other equities analysts also recently issued reports about the stock. Piper Sandler upped their price target on shares of General Motors from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Wednesday. Morgan Stanley upped their price target on shares of General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their price target on shares of General Motors from $28.00 to $30.00 and gave the stock an underweight rating in a research note on Wednesday. Tigress Financial upped their price target on shares of General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a research note on Thursday, February 15th. Finally, Redburn Atlantic assumed coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a neutral rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors has an average rating of Moderate Buy and an average target price of $54.38.

General Motors Price Performance

GM opened at $45.81 on Thursday. The stock has a fifty day moving average of $42.13 and a 200-day moving average of $36.19. The firm has a market capitalization of $52.27 billion, a P/E ratio of 5.58, a PEG ratio of 0.52 and a beta of 1.51. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

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

General Motors Announces Dividend

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

Insider Activity at General Motors

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction 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 approximately $3,236,361.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,248 shares of company stock worth $3,614,078. Company insiders own 0.54% of the company’s stock.

Institutional Trading of General Motors

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB grew its holdings in General Motors by 18.5% during the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after acquiring an additional 74,194 shares during the period. Cerity Partners LLC grew its holdings in General Motors by 361.1% during the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after acquiring an additional 93,754 shares during the period. Foundry Partners LLC grew its holdings in General Motors by 15.0% during the 3rd quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after acquiring an additional 51,336 shares during the period. Public Sector Pension Investment Board grew its holdings in General Motors by 10.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after acquiring an additional 14,002 shares during the period. Finally, AM Squared Ltd grew its holdings in General Motors by 195.0% during the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock worth $1,483,000 after acquiring an additional 27,300 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.