Wedbush Increases General Motors (NYSE:GM) Price Target to $60.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price boosted by Wedbush from $55.00 to $60.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the auto manufacturer’s stock. Wedbush also issued estimates for General Motors’ Q4 2024 earnings at $1.66 EPS, FY2024 earnings at $10.39 EPS, Q2 2025 earnings at $2.70 EPS, Q4 2025 earnings at $2.19 EPS and FY2025 earnings at $10.41 EPS.

Other analysts have also recently issued research reports about the stock. Sanford C. Bernstein cut shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target for the company. in a research note on Monday, September 23rd. The Goldman Sachs Group increased their price objective on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 price objective on shares of General Motors in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Barclays increased their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.92.

General Motors Stock Down 1.2 %

GM stock opened at $52.07 on Wednesday. The company has a market cap of $59.41 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 0.56 and a beta of 1.42. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 12 month low of $26.30 and a 12 month high of $54.29. The firm has a 50-day moving average of $47.68 and a two-hundred day moving average of $46.13.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm earned $2.28 EPS. General Motors’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, analysts forecast that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.87%.

Insiders Place Their Bets

In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 531,228 shares of company stock worth $28,267,714. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

Several institutional investors have recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors during the second quarter worth approximately $25,000. Wellington Shields Capital Management LLC purchased a new position in shares of General Motors in the second quarter valued at $28,000. Fortitude Family Office LLC boosted its stake in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the period. Montag A & Associates Inc. purchased a new position in shares of General Motors in the first quarter valued at $30,000. Finally, EdgeRock Capital LLC purchased a new position in shares of General Motors in the second quarter valued at $33,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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.