Shares of General Motors (NYSE:GM) (TSE:GMM.U) have earned a consensus recommendation of “Buy” from the twenty-eight analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and three have issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $44.46.
A number of brokerages recently issued reports on GM. Vetr cut General Motors from a “hold” rating to a “sell” rating and set a $40.25 target price for the company. in a research report on Tuesday, February 27th. Goldman Sachs set a $33.00 price objective on General Motors and gave the stock a “sell” rating in a research report on Tuesday, February 6th. Royal Bank of Canada raised General Motors from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $51.00 to $52.00 in a research report on Tuesday, December 19th. Barclays reaffirmed a “buy” rating and set a $60.00 price objective on shares of General Motors in a research report on Sunday, January 21st. Finally, Bank of America increased their price objective on General Motors from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th.
Shares of General Motors (GM) opened at $37.94 on Friday. The stock has a market capitalization of $53,090.00, a PE ratio of 7.37, a P/E/G ratio of 0.72 and a beta of 1.60. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.89 and a quick ratio of 0.76. General Motors has a 1 year low of $31.92 and a 1 year high of $46.76.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, March 8th. General Motors’s payout ratio is currently 29.51%.
In related news, CAO Thomas S. Timko sold 8,461 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $42.06, for a total value of $355,869.66. Following the completion of the transaction, the chief accounting officer now directly owns 33,519 shares of the company’s stock, valued at approximately $1,409,809.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Barry L. Engle II sold 50,443 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total value of $2,269,935.00. Following the completion of the transaction, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,569,095. The disclosure for this sale can be found here. Insiders sold a total of 40,289,848 shares of company stock valued at $1,600,694,061 over the last ninety days. 0.04% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Icon Wealth Partners LLC purchased a new position in General Motors in the 4th quarter valued at approximately $106,000. Fieldpoint Private Securities LLC purchased a new position in General Motors during the third quarter worth $119,000. Cerebellum GP LLC purchased a new position in General Motors during the fourth quarter worth $123,000. Independence Bank of Kentucky purchased a new position in General Motors during the fourth quarter worth $129,000. Finally, Stumpf Capital Management LLC purchased a new position in General Motors during the fourth quarter worth $131,000. 73.61% of the stock is owned by hedge funds and other institutional investors.
About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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