Fintel reports that on September 13, 2023, UBS upgraded their outlook for General Motors (NYSE:GM) from Neutral to Buy.

Analyst Price Forecast Suggests 50.48% Upside

As of August 31, 2023, the average one-year price target for General Motors is 50.65. The forecasts range from a low of 33.33 to a high of $99.75. The average price target represents an increase of 50.48% from its latest reported closing price of 33.66.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for General Motors is 165,001MM, a decrease of 2.79%. The projected annual non-GAAP EPS is 6.16.

General Motors Declares $0.09 Dividend

On July 24, 2023 the company declared a regular quarterly dividend of $0.09 per share ($0.36 annualized). Shareholders of record as of September 1, 2023 received the payment on September 14, 2023. Previously, the company paid $0.09 per share.

At the current share price of $33.66 / share, the stock’s dividend yield is 1.07%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.13%, the lowest has been 0.86%, and the highest has been 8.64%. The standard deviation of yields is 1.84 (n=126).

The current dividend yield is 1.12 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.05. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

What is the Fund Sentiment?

There are 2087 funds or institutions reporting positions in General Motors. This is a decrease of 44 owner(s) or 2.06% in the last quarter. Average portfolio weight of all funds dedicated to GM is 0.33%, a decrease of 3.61%. Total shares owned by institutions decreased in the last three months by 2.22% to 1,296,912K shares. The put/call ratio of GM is 0.99, indicating a bullish outlook.

What are Other Shareholders Doing?

Capital World Investors holds 50,797K shares representing 3.69% ownership of the company. In it’s prior filing, the firm reported owning 52,835K shares, representing a decrease of 4.01%. The firm decreased its portfolio allocation in GM by 5.95% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 41,136K shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 40,909K shares, representing an increase of 0.55%. The firm decreased its portfolio allocation in GM by 2.47% over the last quarter.

Harris Associates L P holds 38,535K shares representing 2.80% ownership of the company. In it’s prior filing, the firm reported owning 38,416K shares, representing an increase of 0.31%. The firm increased its portfolio allocation in GM by 3.84% over the last quarter.

Capital Research Global Investors holds 35,945K shares representing 2.61% ownership of the company. In it’s prior filing, the firm reported owning 41,061K shares, representing a decrease of 14.23%. The firm decreased its portfolio allocation in GM by 13.59% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 33,098K shares representing 2.41% ownership of the company. In it’s prior filing, the firm reported owning 32,543K shares, representing an increase of 1.68%. The firm decreased its portfolio allocation in GM by 3.16% over the last quarter.

General Motors Background Information
(This description is provided by the company.)

General Motors is a global company committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet,Buick,GMC,Cadillac, Baojun and Wuling brands.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.