General Motors (NYSE:GM) (TSE:GMM.U) has earned a consensus rating of “Hold” from the twenty-two analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $46.68.
Several equities research analysts recently commented on GM shares. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Bank of America restated a “buy” rating and issued a $60.00 price target on shares of General Motors in a research report on Wednesday, September 12th. Guggenheim restated a “buy” rating and issued a $52.00 price target on shares of General Motors in a research report on Friday, July 20th. JPMorgan Chase & Co. reduced their price target on shares of General Motors from $58.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, July 27th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $39.00 price target on shares of General Motors in a research report on Friday, July 27th.
Hedge funds have recently added to or reduced their stakes in the business. TRUE Private Wealth Advisors purchased a new stake in General Motors in the 3rd quarter worth approximately $106,000. Qube Research & Technologies Ltd purchased a new stake in General Motors in the 2nd quarter worth approximately $115,000. MUFG Americas Holdings Corp purchased a new stake in General Motors in the 2nd quarter worth approximately $123,000. Patriot Financial Group Insurance Agency LLC lifted its position in General Motors by 365.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,672 shares of the auto manufacturer’s stock worth $124,000 after buying an additional 2,883 shares in the last quarter. Finally, Kaizen Advisory LLC lifted its position in General Motors by 163.6% in the 2nd quarter. Kaizen Advisory LLC now owns 3,298 shares of the auto manufacturer’s stock worth $130,000 after buying an additional 2,047 shares in the last quarter. Institutional investors own 73.84% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Shareholders of record on Friday, December 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.53%. General Motors’s payout ratio is 22.96%.
About General Motors
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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