Wedbush Boosts General Motors (NYSE:GM) Price Target to $65.00

Key Points

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General Motors (NYSE:GM - Free Report) TSE: GMM.U had its target price raised by Wedbush from $55.00 to $65.00 in a report published on Tuesday,Benzinga reports. Wedbush currently has an outperform rating on the auto manufacturer's stock.

GM has been the topic of a number of other reports. UBS Group upped their price objective on General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Mizuho raised their price objective on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on shares of General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Barclays raised their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, General Motors currently has an average rating of "Hold" and a consensus price target of $58.05.

General Motors Trading Up 3.2%

GM stock traded up $1.7930 during midday trading on Tuesday, reaching $58.3030. 6,313,781 shares of the company traded hands, compared to its average volume of 7,222,763. General Motors has a 52-week low of $41.60 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The business has a 50 day moving average of $52.51 and a 200-day moving average of $49.20. The firm has a market capitalization of $55.51 billion, a price-to-earnings ratio of 9.25, a P/E/G ratio of 1.23 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The business had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. During the same period in the prior year, the business posted $3.06 earnings per share. The company's quarterly revenue was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, sell-side analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's payout ratio is currently 9.52%.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the sale, the executive vice president owned 8,513 shares of the company's stock, valued at approximately $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher Hatto sold 36,804 shares of General Motors stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total transaction of $2,027,900.40. Following the sale, the chief accounting officer directly owned 12,007 shares of the company's stock, valued at $661,585.70. This represents a 75.40% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On General Motors

Several institutional investors have recently bought and sold shares of the business. Marex Group plc purchased a new position in General Motors during the second quarter valued at approximately $216,000. MRP Capital Investments LLC increased its holdings in General Motors by 142.9% during the second quarter. MRP Capital Investments LLC now owns 850 shares of the auto manufacturer's stock valued at $42,000 after buying an additional 500 shares during the period. Geneos Wealth Management Inc. increased its holdings in General Motors by 26.2% during the second quarter. Geneos Wealth Management Inc. now owns 8,642 shares of the auto manufacturer's stock valued at $425,000 after buying an additional 1,793 shares during the period. CYBER HORNET ETFs LLC purchased a new position in General Motors during the second quarter valued at approximately $146,000. Finally, FORA Capital LLC purchased a new position in General Motors during the second quarter valued at approximately $1,528,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.