General Motors’ (GM) Strong-Buy Rating Reiterated at Tigress Financial

Posted by Defense World Staff on Aug 1st, 2023

Tigress Financial restated their strong-buy rating on shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) in a research report released on Friday morning, Benzinga reports. The firm currently has a $86.00 price objective on the auto manufacturer’s stock.

A number of other analysts also recently issued reports on GM. Royal Bank of Canada boosted their price objective on shares of General Motors from $46.00 to $48.00 in a report on Wednesday, April 26th. The Goldman Sachs Group lifted their target price on shares of General Motors from $46.00 to $49.00 and gave the company a buy rating in a report on Friday, July 14th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Motors from $37.00 to $35.00 in a research note on Wednesday, April 26th. Barclays boosted their price target on General Motors from $42.00 to $46.00 in a report on Monday, July 10th. Finally, Morgan Stanley raised their price target on General Motors from $38.00 to $41.00 in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $50.25.

General Motors Price Performance

Shares of NYSE:GM opened at $38.37 on Friday. The firm’s 50 day moving average price is $37.20 and its 200-day moving average price is $36.68. The company has a quick ratio of 0.96, a current ratio of 1.15 and a debt-to-equity ratio of 1.08. General Motors has a twelve month low of $31.10 and a twelve month high of $43.63. The stock has a market capitalization of $52.79 billion, a PE ratio of 5.36, a price-to-earnings-growth ratio of 0.51 and a beta of 1.36.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.86 by $0.05. The company had revenue of $44.75 billion for the quarter, compared to the consensus estimate of $42.13 billion. General Motors had a return on equity of 16.70% and a net margin of 6.05%. General Motors’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 EPS. Equities research analysts expect that General Motors will post 7.55 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Friday, September 1st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.94%. The ex-dividend date is Thursday, August 31st. General Motors’s payout ratio is 5.03%.

Insiders Place Their Bets

In related news, President Mark L. Reuss sold 9,300 shares of General Motors stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $41.00, for a total transaction of $381,300.00. Following the completion of the transaction, the president now owns 282,973 shares of the company’s stock, valued at $11,601,893. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Paul A. Jacobson acquired 31,000 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was purchased at an average price of $32.60 per share, for a total transaction of $1,010,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 186,847 shares in the company, valued at approximately $6,091,212.20. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Mark L. Reuss sold 9,300 shares of General Motors stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $41.00, for a total transaction of $381,300.00. Following the completion of the sale, the president now directly owns 282,973 shares of the company’s stock, valued at approximately $11,601,893. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

A number of hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in shares of General Motors during the 1st quarter valued at approximately $25,000. BerganKDV Wealth Management LLC lifted its stake in shares of General Motors by 379.2% in the 1st quarter. BerganKDV Wealth Management LLC now owns 714 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 565 shares during the last quarter. Penserra Capital Management LLC boosted its position in General Motors by 85.8% during the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 283 shares during the period. Fiduciary Alliance LLC purchased a new position in shares of General Motors during the second quarter valued at approximately $28,000. Finally, Carmel Capital Partners LLC purchased a new position in shares of General Motors during the first quarter valued at about $29,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

About General Motors

(Get Free Report)

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.