General Motors (NYSE:GM) Given Consensus Rating of “Hold” by Brokerages

General Motors (NYSE:GM) (TSE:GMM.U) has received an average recommendation of “Hold” from the twenty-two research firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $56.72.

A number of equities research analysts have issued reports on GM shares. Piper Sandler increased their target price on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Sanford C. Bernstein downgraded shares of General Motors from a “market perform” rating to an “underperform” rating and cut their price target for the company from $50.00 to $35.00 in a report on Monday, April 7th. UBS Group reaffirmed a “neutral” rating and issued a $51.00 price target (down previously from $64.00) on shares of General Motors in a research report on Thursday, April 10th. The Goldman Sachs Group lowered their target price on shares of General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, Mizuho dropped their price target on General Motors from $63.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, April 10th.

General Motors Trading Down 1.3 %

Shares of GM stock opened at $44.55 on Friday. The stock has a 50-day simple moving average of $47.24 and a 200 day simple moving average of $50.34. The stock has a market capitalization of $44.33 billion, a P/E ratio of 7.24, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, sell-side analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio is 7.80%.

General Motors announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Motors

Several institutional investors have recently bought and sold shares of GM. Fifth Third Bancorp boosted its holdings in shares of General Motors by 7.4% in the 1st quarter. Fifth Third Bancorp now owns 55,005 shares of the auto manufacturer’s stock valued at $2,587,000 after buying an additional 3,807 shares during the last quarter. Simon Quick Advisors LLC increased its holdings in General Motors by 26.6% in the 1st quarter. Simon Quick Advisors LLC now owns 8,486 shares of the auto manufacturer’s stock valued at $399,000 after buying an additional 1,783 shares during the period. Curbstone Financial Management Corp lifted its stake in General Motors by 19.8% during the first quarter. Curbstone Financial Management Corp now owns 18,584 shares of the auto manufacturer’s stock worth $874,000 after purchasing an additional 3,070 shares during the last quarter. Assenagon Asset Management S.A. grew its position in General Motors by 305.6% in the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer’s stock valued at $134,457,000 after acquiring an additional 2,154,037 shares during the last quarter. Finally, MV Capital Management Inc. raised its stake in General Motors by 14.8% during the first quarter. MV Capital Management Inc. now owns 2,886 shares of the auto manufacturer’s stock worth $136,000 after acquiring an additional 373 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

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.