TD Cowen Initiates Coverage on General Motors (NYSE:GM)

TD Cowen began coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research report report published on Friday, Marketbeat.com reports. The firm issued a buy rating and a $105.00 target price on the auto manufacturer’s stock.

Several other equities research analysts have also recently weighed in on GM. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Mizuho lifted their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $62.22.

General Motors Stock Performance

Shares of NYSE GM opened at $47.39 on Friday. General Motors has a 12 month low of $38.94 and a 12 month high of $61.24. The company has a market cap of $47.16 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.67 and a beta of 1.42. The business’s 50 day moving average is $49.70 and its two-hundred day moving average is $50.50. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. On average, equities analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.01%. General Motors’s payout ratio is 7.80%.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

Hedge funds and other institutional investors have recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new position in General Motors in the 4th quarter valued at $25,000. Crews Bank & Trust bought a new stake in shares of General Motors during the fourth quarter worth $26,000. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors during the fourth quarter valued at $27,000. Compass Planning Associates Inc bought a new position in General Motors in the fourth quarter valued at about $27,000. Finally, Whittier Trust Co. increased its position in General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.