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

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

Several other equities analysts have also recently issued reports on the company. Piper Sandler boosted their target price on General Motors from $44.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday. Morgan Stanley upped their price target on General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their price target on General Motors from $28.00 to $30.00 and gave the stock an underweight rating in a research note on Wednesday. UBS Group upped their price target on General Motors from $56.00 to $58.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Wolfe Research raised General Motors from a peer perform rating to an outperform rating and set a $42.00 price target on the stock in a research note on Thursday, January 4th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, General Motors presently has an average rating of Moderate Buy and a consensus price target of $54.65.

General Motors Price Performance

GM opened at $45.82 on Wednesday. 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 52-week low of $26.30 and a 52-week high of $46.17. The stock has a market capitalization of $52.28 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The stock’s 50 day moving average price is $42.27 and its 200-day moving average price is $36.29.

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

General Motors Announces Dividend

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 paid a $0.12 dividend. The ex-dividend date of this dividend 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 currently 5.87%.

Insider Transactions at General Motors

In related news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now directly owns 12,007 shares in the company, valued at $540,315. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

Institutional investors have recently modified their holdings of the business. LifeSteps Financial Inc. purchased a new stake in shares of General Motors during the first quarter valued at $25,000. YHB Investment Advisors Inc. purchased a new position in General Motors in the first quarter worth about $32,000. Highlander Capital Management LLC purchased a new position in General Motors in the fourth quarter worth about $27,000. SouthState Corp boosted its position in 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 purchasing an additional 485 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in General Motors in the first quarter worth about $38,000. 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.