General Motors (NYSE:GM) Reaches New 1-Year High – Here’s Why

General Motors (NYSE:GM) (TSE:GMM.U) reached a new 52-week high on Tuesday . The company traded as high as $58.26 and last traded at $57.88, with a volume of 727926 shares trading hands. The stock had previously closed at $57.66.

Analyst Ratings Changes

Several equities analysts recently weighed in on GM shares. Royal Bank of Canada lifted their price target on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research note on Monday, August 5th. Wolfe Research began coverage on General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. boosted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Wedbush upped their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Stock Performance

The firm has a market capitalization of $63.48 billion, a PE ratio of 6.14, a PEG ratio of 0.42 and a beta of 1.40. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The stock’s 50 day moving average price is $48.97 and its two-hundred day moving average price is $46.98.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating 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 net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $2.28 EPS. On average, equities analysts expect that General Motors will post 10.34 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Insider Buying and Selling

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 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 SEC, which is available at this hyperlink. In other news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the business’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 transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 653,511 shares of company stock valued at $35,012,844 in the last quarter. Company insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

Several large investors have recently added to or reduced their stakes in the business. Capital World Investors raised its stake in shares of General Motors by 14.6% in the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after buying an additional 6,201,777 shares in the last quarter. Swedbank AB bought a new position in shares of General Motors in the first quarter worth about $159,750,000. Jennison Associates LLC grew its position in shares of General Motors by 123.1% during the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after buying an additional 1,779,897 shares during the period. Artemis Investment Management LLP grew its position in shares of General Motors by 581.4% during the 3rd quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock worth $71,827,000 after buying an additional 1,366,768 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares during the period. 92.67% of the stock is owned by institutional investors.

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.