General Motors (NYSE:GM) Upgraded at Wolfe Research

Wolfe Research upgraded shares of General Motors (NYSE:GMFree Report) (TSE:GMM.U) from a peer perform rating to an outperform rating in a research report released on Wednesday morning, MarketBeat reports. Wolfe Research currently has $96.00 price objective on the auto manufacturer’s stock.

Several other brokerages have also issued reports on GM. Royal Bank Of Canada boosted their target price on General Motors from $92.00 to $107.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. UBS Group boosted their price objective on General Motors from $97.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Zacks Research lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 27th. HSBC boosted their target price on shares of General Motors from $48.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, January 13th. Finally, Bank of America started coverage on shares of General Motors in a report on Wednesday, March 4th. They issued a “buy” rating and a $105.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.58.

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General Motors Stock Down 3.5%

Shares of GM opened at $72.98 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The business has a fifty day moving average of $79.12 and a 200 day moving average of $73.31. The company has a market cap of $65.97 billion, a PE ratio of 24.25, a P/E/G ratio of 0.41 and a beta of 1.37. General Motors has a 52-week low of $41.60 and a 52-week high of $87.62.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 27th. The auto manufacturer reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.25. General Motors had a net margin of 1.46% and a return on equity of 14.72%. The firm had revenue of $45.29 billion during the quarter, compared to analysts’ expectations of $45.81 billion. During the same period in the previous year, the company earned $1.92 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. General Motors has set its FY 2026 guidance at 9.750-10.500 EPS. On average, sell-side analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Friday, March 6th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, March 6th. This is a positive change from General Motors’s previous quarterly dividend of $0.15. General Motors’s dividend payout ratio is currently 23.92%.

General Motors announced that its board has authorized a share buyback program on Tuesday, January 27th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On General Motors

Institutional investors have recently bought and sold shares of the business. Laurel Wealth Advisors LLC bought a new stake in General Motors during the 4th quarter valued at $25,000. Elevation Wealth Partners LLC raised its position in shares of General Motors by 500.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 330 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 275 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in shares of General Motors in the 3rd quarter worth $29,000. SouthState Bank Corp lifted its stake in shares of General Motors by 101.7% during the 4th quarter. SouthState Bank Corp now owns 351 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 177 shares during the last quarter. Finally, Kelleher Financial Advisors bought a new stake in General Motors during the third quarter valued at about $29,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

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About General Motors

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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.

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