Brokerages Set General Motors (NYSE:GM) Price Target at $58.70

General Motors (NYSE:GM) (TSE:GMM.U) has been given an average rating of “Hold” by the twenty-two research firms that are covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $59.58.

GM has been the topic of several recent analyst reports. Barclays boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company cut their target price on General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a research report on Monday, December 16th. The Goldman Sachs Group lifted their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. UBS Group increased their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research note on Wednesday, December 11th.

Insiders Place Their Bets

In other news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,030,475 shares of company stock valued at $56,509,286. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

Large investors have recently modified their holdings of the stock. Range Financial Group LLC purchased a new stake in General Motors during the fourth quarter valued at about $1,669,000. Fortem Financial Group LLC raised its position in shares of General Motors by 2.4% in the fourth quarter. Fortem Financial Group LLC now owns 27,322 shares of the auto manufacturer’s stock valued at $1,455,000 after purchasing an additional 630 shares during the period. GAMMA Investing LLC lifted its stake in shares of General Motors by 17.2% during the 4th quarter. GAMMA Investing LLC now owns 18,200 shares of the auto manufacturer’s stock valued at $970,000 after buying an additional 2,672 shares in the last quarter. Versant Capital Management Inc boosted its holdings in General Motors by 104.7% in the 4th quarter. Versant Capital Management Inc now owns 1,466 shares of the auto manufacturer’s stock worth $78,000 after buying an additional 750 shares during the period. Finally, Principal Financial Group Inc. grew its stake in General Motors by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,268,096 shares of the auto manufacturer’s stock valued at $56,861,000 after buying an additional 13,206 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 2.9 %

Shares of GM opened at $52.00 on Wednesday. The stock’s 50-day moving average price is $53.96 and its two-hundred day moving average price is $49.42. General Motors has a 12 month low of $34.32 and a 12 month high of $61.24. The company has a market capitalization of $57.18 billion, a PE ratio of 5.54, a PEG ratio of 0.40 and a beta of 1.42. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 earnings per share. On average, analysts anticipate that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, December 6th. General Motors’s payout ratio is currently 5.12%.

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.