General Motors (NYSE:GM) Hits New 52-Week High – Here’s Why

General Motors Company (NYSE:GM) (TSE:GMM.U) shares hit a new 52-week high on Friday . The company traded as high as $70.68 and last traded at $70.7160, with a volume of 5129092 shares changing hands. The stock had previously closed at $68.84.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Tigress Financial boosted their target price on General Motors from $88.00 to $92.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 24th. Weiss Ratings downgraded shares of General Motors from a “buy (b-)” rating to a “hold (c)” rating in a research report on Saturday, October 25th. Jefferies Financial Group lifted their target price on General Motors from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, October 6th. Royal Bank Of Canada increased their price target on shares of General Motors from $77.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of General Motors in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.00.

General Motors Trading Up 2.7%

The stock has a market cap of $65.97 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 0.96 and a beta of 1.41. The business has a 50 day moving average of $61.06 and a 200-day moving average of $54.37. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The firm had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. During the same quarter in the previous year, the company posted $2.96 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. On average, analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. General Motors’s dividend payout ratio (DPR) is currently 12.07%.

Insider Buying and Selling

In other news, CAO Christopher Hatto sold 36,804 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total value of $2,027,900.40. Following the transaction, the chief accounting officer owned 12,007 shares of the company’s stock, valued at approximately $661,585.70. This trade represents a 75.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Mark L. Reuss sold 260,600 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $66.45, for a total value of $17,316,870.00. Following the completion of the sale, the president directly owned 98,006 shares of the company’s stock, valued at $6,512,498.70. The trade was a 72.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,327,144 shares of company stock valued at $139,521,852. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Motors

A number of institutional investors and hedge funds have recently bought and sold shares of GM. Hemington Wealth Management boosted its position in General Motors by 14.5% during the third quarter. Hemington Wealth Management now owns 1,219 shares of the auto manufacturer’s stock worth $74,000 after purchasing an additional 154 shares during the period. Fielder Capital Group LLC lifted its stake in shares of General Motors by 3.3% during the 3rd quarter. Fielder Capital Group LLC now owns 5,131 shares of the auto manufacturer’s stock valued at $313,000 after buying an additional 163 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in General Motors by 3.4% in the 3rd quarter. Resonant Capital Advisors LLC now owns 5,222 shares of the auto manufacturer’s stock worth $318,000 after buying an additional 171 shares during the period. Sowell Financial Services LLC boosted its holdings in General Motors by 2.9% in the 2nd quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer’s stock worth $336,000 after buying an additional 195 shares during the period. Finally, Unison Advisors LLC grew its stake in General Motors by 0.3% in the 3rd quarter. Unison Advisors LLC now owns 68,272 shares of the auto manufacturer’s stock valued at $4,163,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.