Sanford C. Bernstein Begins Coverage on General Motors (NYSE:GM)

Sanford C. Bernstein began coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research report report published on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $55.00 price objective on the auto manufacturer’s stock.

A number of other equities analysts also recently weighed in on GM. Royal Bank of Canada lifted their target price on shares of General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a research note on Tuesday, April 23rd. Wedbush lifted their price objective on General Motors from $45.00 to $55.00 and gave the stock an outperform rating in a research report on Wednesday. Wolfe Research upgraded General Motors from a peer perform rating to an outperform rating and set a $42.00 target price on the stock in a research report on Thursday, January 4th. Barclays raised their target price on General Motors from $50.00 to $55.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Finally, Citigroup boosted their price target on General Motors from $95.00 to $96.00 and gave the company a buy rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, General Motors presently has a consensus rating of Moderate Buy and a consensus target price of $54.65.

General Motors Trading Up 0.5 %

NYSE GM opened at $45.84 on Thursday. 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 firm has a market capitalization of $52.30 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. The business’s 50-day moving average price is $42.27 and its two-hundred day moving average price is $36.32.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS 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 business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the prior year, the business posted $2.21 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, analysts expect that General Motors will post 9.45 EPS for the current year.

General Motors Dividend Announcement

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

Insider Buying and Selling at General Motors

In related news, CAO Christopher Hatto sold 15,510 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction on 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 directly owns 71,506 shares in the company, valued at $3,236,361.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock worth $3,614,078 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Motors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GM. LifeSteps Financial Inc. purchased a new position in shares of General Motors in the first quarter worth about $25,000. YHB Investment Advisors Inc. bought a new position in General Motors in the 1st quarter worth approximately $32,000. Highlander Capital Management LLC purchased a new position in General Motors in the 4th quarter valued at approximately $27,000. SouthState Corp raised its holdings in General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the period. Finally, Riverview Trust Co purchased a new stake in shares of General Motors during the first quarter worth $38,000. 92.67% of the stock is currently owned by institutional investors.

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.