Piper Sandler Boosts General Motors (NYSE:GM) Price Target to $45.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target boosted by Piper Sandler from $44.00 to $45.00 in a report issued on Wednesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the auto manufacturer’s stock.

Several other research analysts also recently issued reports on the company. Mizuho lifted their price objective on General Motors from $48.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday. TheStreet raised shares of General Motors from a c+ rating to a b- rating in a research note on Tuesday, March 19th. Wolfe Research raised shares of General Motors from a peer perform rating to an outperform rating and set a $42.00 price target for the company in a research report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of General Motors from $44.00 to $50.00 and gave the stock a hold rating in a research report on Tuesday. Finally, Redburn Atlantic initiated coverage on shares of General Motors in a research note on Wednesday, January 24th. They issued a neutral rating and a $40.00 target price on the stock. One 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 company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $54.65.

General Motors Price Performance

GM stock opened at $45.82 on Wednesday. The firm has a 50 day moving average of $42.27 and a 200-day moving average of $36.29. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The company has a market cap of $52.28 billion, a price-to-earnings 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 data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same period in the previous year, the firm posted $2.21 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that General Motors will post 9.45 EPS for the current fiscal year.

General Motors Announces Dividend

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

Insider Buying and Selling at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction on Monday, February 26th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,248 shares of company stock valued at $3,614,078. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of General Motors by 1.4% during the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after acquiring an additional 1,580,681 shares in the last quarter. Putnam Investments LLC boosted its holdings in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after purchasing an additional 3,247,050 shares during the last quarter. Norges Bank acquired a new position in General Motors during the fourth quarter worth $602,280,000. Finally, Morgan Stanley boosted its holdings in General Motors by 1.3% during the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after purchasing an additional 201,080 shares during the last quarter. 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.