General Motors (GM) – Analysts’ Weekly Ratings Updates

by · The Markets Daily

General Motors (NYSE: GM) recently received a number of ratings updates from brokerages and research firms:

  • 10/15/2024 – General Motors had its price target raised by analysts at Barclays PLC from $60.00 to $64.00. They now have an “overweight” rating on the stock.
  • 10/11/2024 – General Motors was downgraded by analysts at DZ Bank AG from a “buy” rating to a “hold” rating. They now have a $49.00 price target on the stock.
  • 10/9/2024 – General Motors had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $54.00 price target on the stock.
  • 10/9/2024 – General Motors had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $55.00 price target on the stock.
  • 10/1/2024 – General Motors had its price target raised by analysts at The Goldman Sachs Group, Inc. from $53.00 to $61.00. They now have a “buy” rating on the stock.
  • 9/25/2024 – General Motors was downgraded by analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating. They now have a $42.00 price target on the stock, down previously from $47.00.
  • 9/23/2024 – General Motors was downgraded by analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating. They now have a $53.00 price target on the stock.
  • 9/10/2024 – General Motors had its price target lowered by analysts at Wells Fargo & Company from $34.00 to $33.00. They now have an “underweight” rating on the stock.
  • 9/10/2024 – General Motors had its “hold” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $53.00 price target on the stock.
  • 9/5/2024 – General Motors is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.

General Motors Trading Up 9.8 %

GM stock traded up $4.80 during trading on Tuesday, hitting $53.73. The company had a trading volume of 42,619,809 shares, compared to its average volume of 15,180,687. The stock has a market cap of $61.30 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 0.56 and a beta of 1.42. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $47.13 and a 200-day moving average price of $45.97. General Motors has a 12 month low of $26.30 and a 12 month high of $54.17.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same quarter last year, the firm earned $1.91 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts predict that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of General Motors stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several hedge funds have recently modified their holdings of GM. Guidance Capital Inc. grew its stake in shares of General Motors by 5.1% in the third quarter. Guidance Capital Inc. now owns 20,107 shares of the auto manufacturer’s stock valued at $989,000 after buying an additional 971 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of General Motors by 29.1% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 8,162 shares of the auto manufacturer’s stock valued at $366,000 after acquiring an additional 1,838 shares during the period. Plan Group Financial LLC bought a new position in shares of General Motors in the 3rd quarter valued at about $353,000. Lecap Asset Management Ltd. increased its stake in shares of General Motors by 710.3% during the 3rd quarter. Lecap Asset Management Ltd. now owns 43,731 shares of the auto manufacturer’s stock worth $1,961,000 after purchasing an additional 38,334 shares during the last quarter. Finally, Weaver Capital Management LLC raised its holdings in shares of General Motors by 29.0% in the 3rd quarter. Weaver Capital Management LLC now owns 17,323 shares of the auto manufacturer’s stock valued at $777,000 after purchasing an additional 3,894 shares during the period. Institutional investors own 92.67% of the company’s stock.

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.

See Also