General Motors (NYSE:GM) Hits New 52-Week High – Time to Buy?

General Motors Company (NYSE:GM) (TSE:GMM.U)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $83.68 and last traded at $83.25, with a volume of 600196 shares. The stock had previously closed at $82.35.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays lifted their price objective on shares of General Motors from $77.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group boosted their price target on shares of General Motors from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. Piper Sandler set a $66.00 price objective on General Motors and gave the company a “neutral” rating in a report on Tuesday, October 21st. Morgan Stanley upgraded General Motors from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $54.00 to $90.00 in a research report on Monday, December 8th. Finally, Evercore ISI raised their price target on General Motors from $68.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, November 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, General Motors has an average rating of “Moderate Buy” and an average target price of $75.76.

General Motors Stock Performance

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 stock’s 50 day moving average is $70.83 and its 200 day moving average is $60.29. The stock has a market capitalization of $77.36 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 0.75 and a beta of 1.30.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The company had revenue of $48.59 billion for the quarter, compared to the consensus estimate of $44.60 billion. During the same quarter in the prior year, the firm earned $2.96 earnings per share. The company’s revenue for the quarter 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, analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Friday, December 5th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, December 5th. General Motors’s payout ratio is 12.07%.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 260,600 shares of the company’s stock in a transaction dated 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 transaction, the president directly owned 98,006 shares in the company, valued at approximately $6,512,498.70. This represents a 72.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary T. Barra sold 753,720 shares of the firm’s stock in a transaction dated 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 in the company, valued at $25,989,943.65. This represents a 63.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,254,589 shares of company stock worth $77,219,450 in the last ninety days. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Motors

Several institutional investors and hedge funds have recently modified their holdings of GM. Vanguard Group Inc. raised its holdings in General Motors by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 110,759,703 shares of the auto manufacturer’s stock valued at $5,450,485,000 after acquiring an additional 11,418,367 shares during the last quarter. Norges Bank acquired a new stake in shares of General Motors during the second quarter worth $444,319,000. AQR Capital Management LLC grew its position in shares of General Motors by 146.8% in the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock valued at $629,196,000 after purchasing an additional 8,012,743 shares during the period. Viking Global Investors LP increased its stake in General Motors by 81.1% in the second quarter. Viking Global Investors LP now owns 13,018,874 shares of the auto manufacturer’s stock valued at $640,659,000 after purchasing an additional 5,830,050 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position in General Motors by 348.4% during the third quarter. Two Sigma Investments LP now owns 3,549,170 shares of the auto manufacturer’s stock worth $216,393,000 after buying an additional 2,757,695 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

About General Motors

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.