General Motors (NYSE:GM) Price Target Increased to $60.00 by Analysts at Wedbush

General Motors (NYSE:GM) (TSE:GMM.U) had its target price upped by Wedbush from $55.00 to $60.00 in a research note released on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the auto manufacturer’s stock. Wedbush also issued estimates for General Motors’ Q4 2024 earnings at $1.66 EPS, FY2024 earnings at $10.39 EPS, Q2 2025 earnings at $2.70 EPS, Q4 2025 earnings at $2.19 EPS and FY2025 earnings at $10.41 EPS.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their target price on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Sanford C. Bernstein cut shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price objective on the stock. in a research note on Monday, September 23rd. Barclays upped their price objective on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group lifted their target price on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wolfe Research began coverage on shares of General Motors in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Price Performance

GM stock opened at $52.07 on Wednesday. The business has a 50 day simple moving average of $47.81 and a 200-day simple moving average of $46.20. General Motors has a twelve month low of $26.30 and a twelve month high of $54.29. The company has a market capitalization of $58.52 billion, a P/E ratio of 5.55, a PEG ratio of 0.60 and a beta of 1.42. The company has a current ratio of 1.21, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the prior year, the company earned $2.28 earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that General Motors will post 10.05 EPS for the current year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.92%. General Motors’s payout ratio is 5.12%.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 531,228 shares of company stock worth $28,267,714. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several institutional investors and hedge funds have recently modified their holdings of the company. SteelPeak Wealth LLC acquired a new position in General Motors in the 3rd quarter valued at $251,000. Pinnacle Associates Ltd. grew its position in shares of General Motors by 10.5% in the third quarter. Pinnacle Associates Ltd. now owns 41,753 shares of the auto manufacturer’s stock valued at $1,872,000 after purchasing an additional 3,980 shares during the period. First Trust Direct Indexing L.P. increased its stake in General Motors by 0.8% in the third quarter. First Trust Direct Indexing L.P. now owns 36,727 shares of the auto manufacturer’s stock valued at $1,647,000 after purchasing an additional 282 shares during the last quarter. Donald Smith & CO. Inc. lifted its position in General Motors by 12.1% during the third quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after buying an additional 175,860 shares during the period. Finally, Highline Wealth Partners LLC acquired a new stake in General Motors in the 3rd quarter worth about $543,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Company Profile

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.