General Motors (NYSE:GM) Hits New 1-Year High – Here’s What Happened

General Motors Company (NYSE:GM) (TSE:GMM.U) shares hit a new 52-week high during trading on Thursday . The company traded as high as $72.39 and last traded at $71.8630, with a volume of 9166435 shares traded. The stock had previously closed at $71.22.

Analyst Ratings Changes

A number of research analysts recently weighed in on GM shares. Weiss Ratings lowered General Motors from a “buy (b-)” rating to a “hold (c)” rating in a research report on Saturday, October 25th. Jefferies Financial Group increased their target price on General Motors from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, October 6th. Cowen restated a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Wells Fargo & Company lifted their price target on General Motors from $40.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 22nd. Finally, TD Cowen increased their price objective on shares of General Motors from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.00.

General Motors Trading Up 0.9%

The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.06 and a current ratio of 1.23. The firm has a market cap of $67.04 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.96 and a beta of 1.41. The stock has a 50-day simple moving average of $62.09 and a two-hundred day simple moving average of $55.14.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.48. The firm had revenue of $48.59 billion during the quarter, compared to analyst estimates of $44.60 billion. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $2.96 earnings per share. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. As a group, sell-side analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s dividend payout ratio is presently 12.07%.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 907,024 shares of the firm’s stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $58.24, for a total value of $52,825,077.76. Following the transaction, the chief executive officer directly owned 552,238 shares in the company, valued at $32,162,341.12. This trade represents a 62.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Mark L. Reuss sold 260,600 shares of the company’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total value of $17,316,870.00. Following the sale, the president owned 98,006 shares of the company’s stock, valued at approximately $6,512,498.70. This trade represents a 72.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,290,340 shares of company stock worth $137,493,952 in the last ninety days. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

A number of institutional investors and hedge funds have recently made changes to their positions in GM. Mirova increased its holdings in General Motors by 4.1% during the 1st quarter. Mirova now owns 133,969 shares of the auto manufacturer’s stock worth $6,301,000 after purchasing an additional 5,293 shares during the period. Capital Investment Advisors LLC grew its position in shares of General Motors by 6.3% during the 2nd quarter. Capital Investment Advisors LLC now owns 8,811 shares of the auto manufacturer’s stock worth $434,000 after buying an additional 526 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in shares of General Motors by 38.9% during the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer’s stock valued at $287,428,000 after buying an additional 1,712,033 shares during the period. Boston Partners purchased a new position in shares of General Motors during the first quarter valued at $719,000. Finally, Malaga Cove Capital LLC bought a new stake in shares of General Motors in the first quarter valued at about $292,000. Hedge funds and other institutional investors 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.