General Motors (GM) – Investment Analysts’ Recent Ratings Changes

Posted by Joseph McCarthy on Nov 12th, 2024

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

10/25/2024 – General Motors had its price target raised by analysts at Sanford C. Bernstein from $53.00 to $55.00. They now have a “market perform” rating on the stock.
10/23/2024 – General Motors had its price target raised by analysts at Wells Fargo & Company from $33.00 to $38.00. They now have an “underweight” rating on the stock.
10/23/2024 – General Motors had its price target raised by analysts at JPMorgan Chase & Co. from $64.00 to $70.00. They now have an “overweight” rating on the stock.
10/23/2024 – General Motors had its price target raised by analysts at Barclays PLC from $64.00 to $70.00. They now have an “overweight” rating on the stock.
10/23/2024 – General Motors had its price target raised by analysts at Royal Bank of Canada from $58.00 to $65.00. They now have an “outperform” rating on the stock.
10/23/2024 – General Motors had its price target raised by analysts at Wedbush from $55.00 to $60.00. They now have an “outperform” rating on the stock.
10/23/2024 – General Motors had its price target raised by analysts at UBS Group AG from $58.00 to $62.00. They now have a “buy” rating on the stock.
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.

General Motors Stock Performance

Shares of NYSE:GM traded down $0.03 during mid-day trading on Tuesday, reaching $57.63. The company had a trading volume of 3,619,913 shares, compared to its average volume of 14,899,410. The company’s 50-day moving average price is $48.97 and its 200-day moving average price is $46.98. General Motors has a one year low of $26.64 and a one year high of $58.26. The firm has a market cap of $63.37 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.42 and a beta of 1.40. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.28 EPS. As a group, equities research analysts anticipate that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.83%. General Motors’s dividend payout ratio (DPR) is 5.12%.

Insider Buying and Selling at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 653,511 shares of company stock worth $35,012,844. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On General Motors

Several large investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors during the 2nd quarter worth about $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors in the third quarter valued at approximately $27,000. Wellington Shields Capital Management LLC purchased a new position in General Motors during the second quarter worth approximately $28,000. Fortitude Family Office LLC grew its holdings in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in shares of General Motors in the 2nd quarter worth $33,000. 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.