General Motors (NYSE:GM) Price Target Raised to $56.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective raised by Royal Bank of Canada from $54.00 to $56.00 in a research report report published on Tuesday morning, Marketbeat reports. The brokerage currently has an overweight rating on the auto manufacturer’s stock.

Several other equities research analysts have also recently weighed in on the company. TheStreet raised General Motors from a c+ rating to a b- rating in a research note on Tuesday, March 19th. Barclays increased their price target on General Motors from $50.00 to $55.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Wolfe Research raised General Motors from a peer perform rating to an outperform rating and set a $42.00 price target for the company in a research note on Thursday, January 4th. Mizuho upped their target price on General Motors from $44.00 to $48.00 and gave the company a buy rating in a research report on Monday, March 25th. Finally, Redburn Atlantic initiated coverage on General Motors in a research report on Wednesday, January 24th. They set a neutral rating and a $40.00 target price on the stock. 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 assigned a strong buy rating to the company. According to data from MarketBeat, General Motors presently has a consensus rating of Moderate Buy and a consensus target price of $54.65.

General Motors Price Performance

Shares of GM opened at $45.82 on Tuesday. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The business has a 50-day simple moving average of $42.27 and a two-hundred day simple moving average of $36.29. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The stock has a market cap of $52.28 billion, a PE ratio of 5.60, a PEG ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly 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. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Analysts anticipate that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s dividend payout ratio is presently 5.87%.

Insider Activity

In related news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

A number of large investors have recently bought and sold shares of GM. SouthState Corp boosted its holdings 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 during the period. LifeSteps Financial Inc. bought a new position in shares of General Motors in the first quarter worth $25,000. Highlander Capital Management LLC bought a new position in shares of General Motors in the fourth quarter worth $27,000. Cape Investment Advisory Inc. boosted its holdings 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 worth $30,000 after acquiring an additional 359 shares during the period. Finally, YHB Investment Advisors Inc. bought a new position in shares of General Motors in the first quarter worth $32,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.