General Motors (NYSE:GM) Sets New 1-Year High – Still a Buy?

General Motors Company (NYSE:GM) (TSE:GMM.U)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $73.08 and last traded at $72.8650, with a volume of 4462491 shares changing hands. The stock had previously closed at $71.00.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Zacks Research upgraded shares of General Motors from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Cowen reissued a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Tigress Financial raised their price objective on shares of General Motors from $88.00 to $92.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 24th. Finally, Wedbush set a $75.00 target price on General Motors and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.27.

General Motors Stock Up 2.7%

The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 1.40. The firm’s 50 day simple moving average is $63.89 and its two-hundred day simple moving average is $56.53. The firm has a market cap of $68.00 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 0.96 and a beta of 1.41.

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

General Motors Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 753,720 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total transaction of $45,185,514.00. Following the sale, the chief executive officer directly owned 433,527 shares of the company’s stock, valued at approximately $25,989,943.65. This represents a 63.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 6,600 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $61.95, for a total value of $408,870.00. Following the completion of the transaction, the executive vice president owned 8,513 shares in the company, valued at $527,380.35. The trade was a 43.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,298,064 shares of company stock valued at $138,050,080. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On General Motors

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirova grew its position 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 acquiring an additional 5,293 shares during the last quarter. Capital Investment Advisors LLC raised its position in General Motors by 6.3% in the second quarter. Capital Investment Advisors LLC now owns 8,811 shares of the auto manufacturer’s stock valued at $434,000 after purchasing an additional 526 shares during the last quarter. Boston Partners acquired a new stake in shares of General Motors during the first quarter valued at about $719,000. Malaga Cove Capital LLC bought a new stake in shares of General Motors during the first quarter worth about $292,000. Finally, Ieq Capital LLC grew its holdings in shares of General Motors by 233.7% during the first quarter. Ieq Capital LLC now owns 507,213 shares of the auto manufacturer’s stock worth $23,854,000 after purchasing an additional 355,235 shares during the last quarter. 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.