General Motors (NYSE:GM) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued 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. The firm currently has a $54.00 price target on the auto manufacturer’s stock.

Other equities analysts have also recently issued research reports about the stock. Bank of America reissued a buy rating and issued a $75.00 target price on shares of General Motors in a report on Wednesday, June 12th. Wedbush restated an outperform rating and set a $55.00 price objective on shares of General Motors in a research note on Wednesday. Wolfe Research assumed coverage on shares of General Motors in a research report on Thursday, September 5th. They set a peer perform rating for the company. Wells Fargo & Company dropped their price objective on shares of General Motors from $34.00 to $33.00 and set an underweight rating on the stock in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of General Motors from $60.00 to $61.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $55.16.

General Motors Trading Up 0.4 %

GM opened at $47.87 on Wednesday. The stock has a market capitalization of $53.80 billion, a PE ratio of 5.38, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The firm’s fifty day moving average price is $46.27 and its 200 day moving average price is $45.79.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.91 EPS. As a group, research analysts expect that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s payout ratio is 5.39%.

Insider Transactions at General Motors

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Paul A. Jacobson purchased 25,000 shares of the stock in a transaction on Friday, July 26th. The shares were bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the second quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors in the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC increased its position in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the period. Montag A & Associates Inc. acquired a new position in shares of General Motors during the first quarter worth approximately $30,000. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors during the second quarter worth approximately $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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.