Wells Fargo & Company Raises General Motors (NYSE:GM) Price Target to $38.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price increased by Wells Fargo & Company from $33.00 to $38.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an underweight rating on the auto manufacturer’s stock.

Other analysts have also issued research reports about the company. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price objective on shares of General Motors in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. Wolfe Research began coverage on shares of General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research note on Friday, October 11th. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Stock Performance

Shares of General Motors stock opened at $52.07 on Wednesday. The company has a market capitalization of $59.41 billion, a PE ratio of 6.37, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a 50-day simple moving average of $47.68 and a two-hundred day simple moving average of $46.13. General Motors has a one year low of $26.30 and a one year high of $54.29. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the previous year, the firm earned $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts expect that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.87%.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on 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 directly owns 10,356 shares of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the firm’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 sale, the executive vice president now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 531,228 shares of company stock valued at $28,267,714. 0.72% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new stake in General Motors in the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors in the second quarter valued at about $28,000. Fortitude Family Office LLC increased its stake in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. Montag A & Associates Inc. acquired a new position in shares of General Motors during the 1st quarter worth about $30,000. Finally, EdgeRock Capital LLC purchased a new position in General Motors in the 2nd quarter valued at about $33,000. 92.67% of the stock is 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.