General Motors (GM) Given Consensus Rating of “Buy” by Analysts
Shares of General Motors (NYSE:GM) (TSE:GMM.U) have earned an average recommendation of “Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $48.29.
GM has been the subject of several analyst reports. Seaport Global Securities initiated coverage on shares of General Motors in a research note on Wednesday, February 13th. They issued a “buy” rating for the company. Citigroup lifted their price objective on shares of General Motors to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 8th. Nomura set a $42.00 price objective on shares of General Motors and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Zacks Investment Research lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Goldman Sachs Group reissued a “neutral” rating and issued a $36.00 target price on shares of General Motors in a report on Tuesday, March 26th.
Shares of General Motors stock opened at $37.37 on Thursday. General Motors has a twelve month low of $30.56 and a twelve month high of $45.00. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $51.86 billion, a price-to-earnings ratio of 5.71, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.07%. The ex-dividend date is Thursday, June 6th. General Motors’s dividend payout ratio is currently 23.24%.
In related news, CFO Dhivya Suryadevara sold 34,756 shares of General Motors stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.40, for a total transaction of $1,299,874.40. Following the sale, the chief financial officer now directly owns 10,741 shares of the company’s stock, valued at approximately $401,713.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Hatto sold 8,499 shares of General Motors stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $40.00, for a total transaction of $339,960.00. Following the sale, the vice president now directly owns 10,040 shares in the company, valued at $401,600. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc lifted its position in shares of General Motors by 2.9% in the 3rd quarter. Vanguard Group Inc now owns 96,849,509 shares of the auto manufacturer’s stock worth $3,260,923,000 after purchasing an additional 2,699,178 shares during the period. BlackRock Inc. lifted its position in shares of General Motors by 6.7% in the 1st quarter. BlackRock Inc. now owns 83,427,385 shares of the auto manufacturer’s stock worth $3,095,158,000 after purchasing an additional 5,215,771 shares during the period. Harris Associates L P lifted its position in shares of General Motors by 4.2% in the 4th quarter. Harris Associates L P now owns 62,412,310 shares of the auto manufacturer’s stock worth $2,087,691,000 after purchasing an additional 2,510,439 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of General Motors by 2,701.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,064,309 shares of the auto manufacturer’s stock worth $1,018,000 after purchasing an additional 32,848,376 shares during the period. Finally, Greenhaven Associates Inc. acquired a new position in shares of General Motors in the 1st quarter worth approximately $754,274,000. 77.34% of the stock is currently owned by institutional investors.
About General Motors
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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