General Motors (NYSE:GM) Price Target Raised to $55.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price increased by Wedbush from $45.00 to $55.00 in a report published on Wednesday, Benzinga reports. Wedbush currently has an outperform rating on the auto manufacturer’s stock. Wedbush also issued estimates for General Motors’ Q2 2024 earnings at $2.74 EPS, Q3 2024 earnings at $2.62 EPS, Q4 2024 earnings at $1.58 EPS, FY2024 earnings at $9.53 EPS, Q1 2025 earnings at $3.20 EPS, Q2 2025 earnings at $2.69 EPS, Q3 2025 earnings at $2.67 EPS, Q4 2025 earnings at $2.71 EPS and FY2025 earnings at $11.50 EPS.

GM has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on General Motors from $44.00 to $50.00 and gave the company a hold rating in a report on Tuesday. The Goldman Sachs Group raised their target price on General Motors from $45.00 to $50.00 and gave the company a buy rating in a report on Wednesday, January 31st. Mizuho increased their price target on shares of General Motors from $48.00 to $52.00 and gave the company a buy rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of General Motors from $27.00 to $28.00 and gave the stock an underweight rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada increased their target price on shares of General Motors from $54.00 to $56.00 and gave the company an overweight rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $54.65.

General Motors Stock Up 0.4 %

GM opened at $45.82 on Wednesday. The stock has a market capitalization of $52.28 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. General Motors has a one year low of $26.30 and a one year high of $46.17. The business’s 50-day simple moving average is $42.27 and its 200-day simple moving average is $36.29.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same period last year, the business posted $2.21 EPS. The company’s revenue was up 7.6% on a year-over-year basis. Analysts anticipate that General Motors will post 9.45 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now directly owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. SouthState Corp increased its position in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares in the last quarter. LifeSteps Financial Inc. acquired a new stake in General Motors in the 1st quarter valued at $25,000. Highlander Capital Management LLC purchased a new stake in shares of General Motors in the fourth quarter worth about $27,000. Cape Investment Advisory Inc. grew its stake in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 359 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of General Motors in the first quarter valued at about $32,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

About General Motors

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.