General Motors (NYSE:GM) Upgraded to “Overweight” by Barclays

Barclays upgraded shares of General Motors (NYSE:GM) (TSE:GMM.U) from an equal weight rating to an overweight rating in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm currently has $37.00 target price on the auto manufacturer’s stock.

Several other equities research analysts have also recently weighed in on GM. Morgan Stanley lowered their price target on shares of General Motors from $41.00 to $40.00 and set an overweight rating for the company in a research report on Friday, October 27th. Tigress Financial reaffirmed a strong-buy rating and issued a $86.00 price target on shares of General Motors in a research report on Friday, July 28th. The Goldman Sachs Group lowered their price target on shares of General Motors from $47.00 to $42.00 and set a buy rating for the company in a research report on Wednesday, October 25th. Bank of America increased their target price on shares of General Motors from $72.00 to $75.00 in a research report on Wednesday, July 26th. Finally, TheStreet cut shares of General Motors from a b- rating to a c+ rating in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $50.67.

General Motors Stock Performance

Shares of NYSE:GM opened at $29.77 on Wednesday. The company has a market capitalization of $40.77 billion, a price-to-earnings ratio of 4.19, a PEG ratio of 0.40 and a beta of 1.48. General Motors has a 12 month low of $26.79 and a 12 month high of $43.63. The firm’s 50-day moving average is $31.45 and its 200 day moving average is $34.14. The company has a current ratio of 1.14, a quick ratio of 0.96 and a debt-to-equity ratio of 1.02.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 24th. The auto manufacturer reported $2.28 EPS for the quarter, beating the consensus estimate of $1.87 by $0.41. The company had revenue of $44.13 billion for the quarter, compared to the consensus estimate of $42.48 billion. General Motors had a net margin of 5.83% and a return on equity of 16.01%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.25 EPS. Research analysts predict that General Motors will post 7.16 EPS for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, December 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.36 annualized dividend and a yield of 1.21%. General Motors’s payout ratio is 5.06%.

Hedge Funds Weigh In On General Motors

Several institutional investors and hedge funds have recently bought and sold shares of GM. Venturi Wealth Management LLC acquired a new position in shares of General Motors in the 1st quarter worth approximately $25,000. VisionPoint Advisory Group LLC purchased a new stake in General Motors during the 2nd quarter worth approximately $25,000. BerganKDV Wealth Management LLC increased its stake in General Motors by 379.2% during the 1st quarter. BerganKDV Wealth Management LLC now owns 714 shares of the auto manufacturer’s stock worth $26,000 after buying an additional 565 shares during the period. Penserra Capital Management LLC increased its stake in General Motors by 85.8% during the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after buying an additional 283 shares during the period. Finally, Fiduciary Alliance LLC purchased a new stake in General Motors during the 2nd quarter worth approximately $28,000. 79.62% of the stock is currently owned by institutional investors and hedge funds.

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.