General Motors (NYSE:GM) Given New $37.00 Price Target at Wells Fargo & Company

General Motors (NYSE:GM) (TSE:GMM.U) had its target price hoisted by Wells Fargo & Company from $35.00 to $37.00 in a research note issued to investors on Wednesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the auto manufacturer’s stock.

Several other analysts also recently issued reports on the company. Barclays increased their price target on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Mizuho upped their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research report on Friday, October 11th. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.28.

General Motors Trading Down 0.4 %

Shares of GM stock opened at $49.85 on Wednesday. General Motors has a twelve month low of $37.40 and a twelve month high of $61.24. The company has a market capitalization of $54.82 billion, a price-to-earnings ratio of 5.31, a PEG ratio of 0.38 and a beta of 1.42. The firm has a 50-day moving average price of $53.04 and a 200 day moving average price of $49.95. 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) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 16.30% and a net margin of 6.06%. Research analysts forecast that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 514,344 shares of company stock valued at $28,977,691. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of General Motors

A number of institutional investors and hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of General Motors during the 4th quarter worth about $25,000. Crews Bank & Trust acquired a new position in General Motors during the fourth quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of General Motors during the 4th quarter worth about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors in the 2nd quarter worth approximately $25,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of General Motors during the fourth quarter worth $31,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.