General Motors (NYSE:GM) Price Target Cut to $53.00 by Analysts at JPMorgan Chase & Co.

General Motors (NYSE:GM) (TSE:GMM.U) had its price target cut by JPMorgan Chase & Co. from $64.00 to $53.00 in a research report sent to investors on Thursday morning, MarketBeat.com reports. They currently have an overweight rating on the auto manufacturer’s stock.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a report on Saturday, March 1st. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. UBS Group reissued a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Finally, Cowen initiated coverage on General Motors in a report on Thursday, March 6th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.11.

General Motors Stock Performance

Shares of NYSE:GM opened at $47.24 on Thursday. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The stock has a market capitalization of $47.00 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company’s 50 day simple moving average is $48.97 and its 200 day simple moving average is $50.53.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has approved a stock repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Motors

Several institutional investors have recently made changes to their positions in GM. Golden State Wealth Management LLC acquired a new position in shares of General Motors during the fourth quarter worth approximately $25,000. Crews Bank & Trust acquired a new position in General Motors during the fourth quarter worth $26,000. Truvestments Capital LLC bought a new position in shares of General Motors in the third quarter valued at $27,000. Compass Planning Associates Inc acquired a new position in shares of General Motors during the fourth quarter valued at about $27,000. Finally, Duncker Streett & Co. Inc. increased its position in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 498 shares in the last quarter. 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.