General Motors (NYSE:GM) Reaches New 1-Year High – Time to Buy?

General Motors Company (NYSE:GM) (TSE:GMM.U) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $61.95 and last traded at $61.61, with a volume of 2234299 shares changing hands. The stock had previously closed at $60.59.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GM. Barclays upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $55.00 to $73.00 in a research report on Friday, September 12th. Mizuho boosted their target price on shares of General Motors from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, September 23rd. Benchmark initiated coverage on General Motors in a research note on Monday, July 21st. They set a “buy” rating and a $65.00 price objective on the stock. Bank of America decreased their price target on General Motors from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of General Motors from $56.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.53.

General Motors Stock Up 1.1%

The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The firm’s 50-day moving average price is $56.38 and its 200-day moving average price is $51.14. The company has a market cap of $58.31 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 1.29 and a beta of 1.32.

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

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, September 5th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. General Motors’s payout ratio is presently 9.52%.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 136,161 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $60.12, for a total transaction of $8,185,999.32. Following the sale, the president owned 131,036 shares in the company, valued at $7,877,884.32. This represents a 50.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Christopher Hatto sold 14,667 shares of General Motors stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total transaction of $865,353.00. Following the transaction, the chief accounting officer directly owned 12,007 shares in the company, valued at $708,413. This represents a 54.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,044,824 shares of company stock valued at $120,540,709 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

A number of institutional investors have recently bought and sold shares of the business. Brighton Jones LLC increased its position in shares of General Motors by 456.1% during the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer’s stock worth $2,062,000 after acquiring an additional 31,755 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in General Motors during the fourth quarter valued at approximately $233,000. Versant Capital Management Inc increased its holdings in General Motors by 120.7% during the 1st quarter. Versant Capital Management Inc now owns 3,235 shares of the auto manufacturer’s stock worth $152,000 after purchasing an additional 1,769 shares during the last quarter. GAMMA Investing LLC boosted its stake in General Motors by 5,102.5% in the first quarter. GAMMA Investing LLC now owns 946,855 shares of the auto manufacturer’s stock valued at $44,531,000 after acquiring an additional 928,655 shares during the period. Finally, BTC Capital Management Inc. grew its position in General Motors by 1.6% in the 1st quarter. BTC Capital Management Inc. now owns 123,321 shares of the auto manufacturer’s stock valued at $5,800,000 after buying an additional 1,914 shares in the last quarter. 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.