General Motors (NYSE:GM) Price Target Raised to $96.00 at Citigroup

General Motors (NYSE:GM) (TSE:GMM.U) had its price target raised by Citigroup from $95.00 to $96.00 in a research report sent to investors on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the auto manufacturer’s stock.

GM has been the topic of several other reports. TheStreet upgraded General Motors from a c+ rating to a b- rating in a research note on Tuesday, March 19th. Wedbush lifted their target price on General Motors from $45.00 to $55.00 and gave the stock an outperform rating in a research note on Wednesday. UBS Group lifted their target price on General Motors from $56.00 to $58.00 and gave the stock a buy rating in a research note on Wednesday. Morgan Stanley lifted their target price on General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Finally, Mizuho lifted their target price on General Motors from $48.00 to $52.00 and gave the stock a buy rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Motors has a consensus rating of Moderate Buy and an average price target of $54.65.

General Motors Price Performance

Shares of GM opened at $45.84 on Wednesday. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17. The business’s fifty day moving average is $42.27 and its 200 day moving average is $36.32. 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 $52.30 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $41.09 billion. During the same period last year, the business earned $2.21 EPS. General Motors’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts anticipate that General Motors will post 9.45 earnings per share for the current fiscal year.

General Motors Announces Dividend

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

Insider Buying and Selling at General Motors

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated 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 transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, 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. Also, EVP Gerald Johnson sold 27,122 shares of the business’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 transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Arkadios Wealth Advisors bought a new stake in General Motors in the 3rd quarter worth approximately $249,000. Impact Partnership Wealth LLC lifted its position in General Motors by 53.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,649 shares of the auto manufacturer’s stock worth $54,000 after buying an additional 577 shares during the last quarter. Founders Financial Securities LLC lifted its position in General Motors by 6.6% in the 3rd quarter. Founders Financial Securities LLC now owns 14,472 shares of the auto manufacturer’s stock worth $477,000 after buying an additional 890 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in General Motors by 11,739.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 212,631 shares of the auto manufacturer’s stock worth $7,010,000 after buying an additional 210,835 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in General Motors in the 3rd quarter worth approximately $122,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.