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

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

Other research analysts have also issued research reports about the company. Wedbush raised their price objective on General Motors from $40.00 to $45.00 and gave the company an outperform rating in a research report on Wednesday, January 31st. Wolfe Research upgraded General Motors from a peer perform rating to an outperform rating and set a $42.00 price objective for the company in a research report on Thursday, January 4th. Tigress Financial raised their price objective on General Motors from $86.00 to $88.00 and gave the company a strong-buy rating in a research report on Thursday, February 15th. TheStreet upgraded General Motors from a c+ rating to a b- rating in a research report on Tuesday, March 19th. Finally, Piper Sandler began coverage on General Motors in a research report on Friday, March 15th. They set a neutral rating and a $44.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $54.65.

General Motors Price Performance

NYSE:GM opened at $45.82 on Tuesday. 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 business’s 50-day simple moving average is $42.27 and its two-hundred day simple moving average is $36.29. The stock has a market cap of $52.28 billion, a PE ratio of 5.60, a P/E/G ratio of 0.52 and a beta of 1.51. General Motors has a 52 week low of $26.30 and a 52 week high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion for 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 period last year, the firm earned $2.21 earnings per share. As a group, analysts forecast that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given 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 business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Christopher Hatto sold 15,510 shares of the business’s 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 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 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Institutional Trading of General Motors

Several institutional investors and hedge funds have recently modified their holdings of GM. Norges Bank bought a new position in General Motors in the fourth quarter worth approximately $602,280,000. Acadian Asset Management LLC increased its position in shares of General Motors by 454.3% during the third quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after purchasing an additional 4,275,293 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of 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 in the last quarter. Putnam Investments LLC increased its position in shares of 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 in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of General Motors by 32.6% during the third quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after purchasing an additional 2,049,412 shares in the last quarter. 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.