Brokerages Set General Motors (NYSE:GM) PT at $62.89

General Motors (NYSE:GM) (TSE:GMM.U) has been given an average recommendation of “Hold” by the twenty-two brokerages that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $62.89.

Several equities analysts recently issued reports on the company. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. UBS Group restated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and boosted their target price for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, TD Cowen initiated coverage on General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 target price on the stock.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

Several large investors have recently modified their holdings of the stock. NorthCrest Asset Manangement LLC acquired a new stake in shares of General Motors during the 4th quarter worth $233,000. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of General Motors during the 4th quarter worth $25,824,000. Centaurus Financial Inc. lifted its position in shares of General Motors by 13.9% during the 4th quarter. Centaurus Financial Inc. now owns 14,451 shares of the auto manufacturer’s stock worth $770,000 after buying an additional 1,769 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of General Motors during the 4th quarter worth $60,198,000. Finally, LM Advisors LLC bought a new stake in shares of General Motors during the 4th quarter worth $228,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of GM opened at $49.84 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock has a 50 day simple moving average of $49.05 and a 200 day simple moving average of $50.47. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The firm has a market capitalization of $49.59 billion, a PE ratio of 8.10, a P/E/G ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Sell-side analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is 7.80%.

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.