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

General Motors (NYSE:GM) (TSE:GMM.U) had its price target lifted by JPMorgan Chase & Co. from $64.00 to $70.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the auto manufacturer’s stock.

Several other brokerages have also weighed in on GM. UBS Group increased their price objective on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday. 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. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a report on Monday, August 5th. Wolfe Research started coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.92.

General Motors Price Performance

Shares of GM stock opened at $52.07 on Wednesday. General Motors has a 1 year low of $26.30 and a 1 year high of $54.29. The firm’s 50 day moving average is $47.68 and its 200-day moving average is $46.13. The firm has a market capitalization 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 (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data 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. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the prior year, the business posted $2.28 earnings per share. General Motors’s revenue was up 10.5% compared to the same quarter last year. Sell-side analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be given a $0.12 dividend. 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 (DPR) is currently 5.87%.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $459,787.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, EVP Rory Harvey sold 9,307 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $459,787.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction 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 sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 531,228 shares of company stock valued at $28,267,714. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

A number of hedge funds have recently modified their holdings of GM. Global Assets Advisory LLC acquired a new stake in shares of General Motors during the 1st quarter worth about $2,644,000. Brookstone Capital Management lifted its stake in shares of General Motors by 5.1% during the 1st quarter. Brookstone Capital Management now owns 158,321 shares of the auto manufacturer’s stock worth $7,180,000 after buying an additional 7,639 shares during the last quarter. Sovereign Financial Group Inc. acquired a new stake in shares of General Motors during the 1st quarter worth about $230,000. Signet Financial Management LLC lifted its stake in shares of General Motors by 24.2% during the 1st quarter. Signet Financial Management LLC now owns 27,769 shares of the auto manufacturer’s stock worth $1,259,000 after buying an additional 5,414 shares during the last quarter. Finally, Janiczek Wealth Management LLC lifted its stake in shares of General Motors by 5.2% during the 1st quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock worth $230,000 after buying an additional 248 shares during the last quarter. 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.