General Motors (NYSE:GM) Given New $37.00 Price Target at Wells Fargo & Company

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective lifted by Wells Fargo & Company from $35.00 to $37.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an underweight rating on the auto manufacturer’s stock.

GM has been the subject of a number of other reports. UBS Group boosted their target price on shares of General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Wedbush boosted their price target on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada upped their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and a consensus price target of $61.28.

General Motors Stock Performance

Shares of GM stock opened at $49.46 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The business has a 50 day moving average of $52.82 and a two-hundred day moving average of $49.95. The company has a market cap of $49.21 billion, a P/E ratio of 8.04, a PEG ratio of 0.28 and a beta of 1.42. General Motors has a 52 week low of $37.60 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, analysts anticipate that General Motors will post 11.45 EPS for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. General Motors’s dividend payout ratio is currently 7.80%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 514,344 shares of company stock valued at $28,977,691. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

A number of institutional investors have recently bought and sold shares of GM. Golden State Wealth Management LLC purchased a new stake in shares of General Motors during the 4th quarter worth about $25,000. Crews Bank & Trust acquired a new stake in General Motors in the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in General Motors in the fourth quarter worth approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors during the 2nd quarter worth $25,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of General Motors during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.