General Motors (NYSE:GM) Earns Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a $55.00 target price on the auto manufacturer’s stock. Wedbush also issued estimates for General Motors’ FY2024 earnings at $10.02 EPS and Q2 2025 earnings at $3.00 EPS.

A number of other brokerages have also recently issued reports on GM. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Motors from $44.00 to $50.00 and gave the company a hold rating in a research report on Tuesday, April 23rd. UBS Group lifted their price target on shares of General Motors from $61.00 to $64.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Morgan Stanley cut shares of General Motors from an overweight rating to an equal weight rating and lifted their price target for the company from $46.00 to $47.00 in a research report on Wednesday. StockNews.com raised shares of General Motors from a hold rating to a buy rating in a report on Saturday, June 1st. Finally, Wells Fargo & Company lifted their target price on shares of General Motors from $32.00 to $34.00 and gave the stock an underweight rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $56.38.

General Motors Trading Down 0.0 %

Shares of GM opened at $44.12 on Wednesday. The firm’s 50-day moving average price is $46.49 and its 200-day moving average price is $43.01. The firm has a market capitalization of $49.59 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.44 and a beta of 1.43. The company has a current ratio of 1.18, a quick ratio of 0.97 and a debt-to-equity ratio of 1.23. General Motors has a 1-year low of $26.30 and a 1-year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $45.13 billion. During the same period last year, the company posted $1.91 EPS. General Motors’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that General Motors will post 9.93 EPS for the current year.

General Motors announced that its Board of Directors has approved a share repurchase program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. General Motors’s dividend payout ratio is presently 5.87%.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the sale, the chief executive officer now owns 898,648 shares of the company’s stock, valued at $43,431,657.84. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock worth $51,818,111 over the last three months. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of General Motors

Several large investors have recently added to or reduced their stakes in GM. LifeSteps Financial Inc. bought a new stake in General Motors during the first quarter valued at approximately $25,000. Highlander Capital Management LLC bought a new position in shares of General Motors in the fourth quarter worth approximately $27,000. Fortitude Family Office LLC boosted its position in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Cape Investment Advisory Inc. boosted its position in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the period. Finally, Montag A & Associates Inc. bought a new position in shares of General Motors in the first quarter worth approximately $30,000. 92.67% of the stock is currently owned by institutional investors.

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.