StockNews.com Upgrades General Motors (NYSE:GM) to “Buy”

StockNews.com upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from a hold rating to a buy rating in a research report report published on Thursday.

Other equities analysts have also recently issued research reports about the stock. TheStreet raised shares of General Motors from a c+ rating to a b- rating in a research note on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Motors from $44.00 to $50.00 and gave the stock a hold rating in a research note on Tuesday. Tigress Financial boosted their price target on shares of General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a research note on Thursday, February 15th. Piper Sandler boosted their price target on shares of General Motors from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Wednesday. Finally, The Goldman Sachs Group boosted their price target on shares of General Motors from $45.00 to $50.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, General Motors has a consensus rating of Moderate Buy and an average target price of $54.38.

General Motors Stock Performance

General Motors stock opened at $45.81 on Thursday. The firm’s 50 day simple moving average is $42.13 and its 200 day simple moving average is $36.19. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $52.27 billion, a PE ratio of 5.58, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. General Motors has a 1-year low of $26.30 and a 1-year high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. General Motors’s revenue was up 7.6% on a year-over-year basis. As a group, analysts expect that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.05%. General Motors’s payout ratio is currently 5.87%.

Insider Buying and Selling at General Motors

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerald Johnson sold 15,190 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the transaction, the executive vice president now owns 98,628 shares of the company’s stock, valued at $3,948,078.84. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 in the last quarter. Company insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GM. Norges Bank bought a new position in shares of General Motors in the 4th quarter worth about $602,280,000. Acadian Asset Management LLC increased its stake in shares of General Motors by 454.3% in the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after acquiring an additional 4,275,293 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares in the last quarter. Putnam Investments LLC increased its stake in shares of General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of General Motors by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after acquiring an additional 2,049,412 shares in the last quarter. 92.67% of the stock is currently 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.