Barclays Raises General Motors (NYSE:GM) Price Target to $70.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price boosted by Barclays from $64.00 to $70.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the auto manufacturer’s stock.

Several other brokerages have also issued reports on GM. Wolfe Research assumed coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Nomura Securities raised General Motors to a “strong sell” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group lifted their price target on shares of General Motors from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company decreased their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.92.

General Motors Stock Performance

Shares of General Motors stock opened at $52.07 on Wednesday. The stock has a market cap of $59.41 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. General Motors has a 12 month low of $26.30 and a 12 month high of $54.29. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The business has a fifty day simple moving average of $47.68 and a 200-day simple moving average of $46.13.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.28 EPS. On average, sell-side analysts anticipate that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

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

Insider Buying and Selling at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 694,548 shares in the company, 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 is accessible through this link. In other General Motors news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock valued at $28,267,714 in the last 90 days. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GM. ACR Alpine Capital Research LLC raised its position in General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after purchasing an additional 492,693 shares during the last quarter. BDF Gestion acquired a new position in General Motors during the 2nd quarter worth about $2,886,000. Atomi Financial Group Inc. bought a new stake in General Motors during the 1st quarter worth about $244,000. Cetera Investment Advisers increased its position in General Motors by 98.5% in the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock valued at $14,993,000 after acquiring an additional 164,083 shares in the last quarter. Finally, Susquehanna International Group Ltd. bought a new position in shares of General Motors in the second quarter worth about $636,000. 92.67% of the stock is owned by institutional investors and hedge funds.

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.