General Motors (NYSE:GM) Price Target Raised to $32.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target raised by Wells Fargo & Company from $30.00 to $32.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the auto manufacturer’s stock.

A number of other equities analysts have also weighed in on the stock. Citigroup boosted their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Morgan Stanley boosted their price objective on shares of General Motors from $43.00 to $46.00 and gave the company an overweight rating in a research report on Wednesday, April 10th. UBS Group boosted their price objective on shares of General Motors from $58.00 to $61.00 and gave the company a buy rating in a research report on Thursday, June 20th. Royal Bank of Canada upped their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a research report on Tuesday, April 23rd. Finally, Mizuho increased their price target on shares of General Motors from $48.00 to $52.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $54.91.

General Motors Stock Up 1.9 %

Shares of NYSE GM opened at $46.45 on Tuesday. General Motors has a 12-month low of $26.30 and a 12-month high of $49.35. The company has a market capitalization of $52.99 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 0.48 and a beta of 1.46. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The firm’s 50-day moving average is $45.60 and its two-hundred day moving average is $41.35.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly 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 net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts anticipate that General Motors will post 9.43 EPS for the current fiscal year.

General Motors declared that its board has approved a share buyback plan on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors’s dividend payout ratio (DPR) is 5.87%.

Insider Buying and Selling at General Motors

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the sale, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the sale, the chief executive officer now owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the sale, the president now directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Insiders have sold 1,152,621 shares of company stock worth $51,818,111 in the last ninety days. 0.72% of the stock is owned by insiders.

Institutional Trading of General Motors

A number of large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of General Motors by 13.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,460 shares of the auto manufacturer’s stock worth $288,000 after acquiring an additional 752 shares during the period. Soltis Investment Advisors LLC grew its position in General Motors by 588.0% in the 1st quarter. Soltis Investment Advisors LLC now owns 126,153 shares of the auto manufacturer’s stock valued at $5,721,000 after buying an additional 107,816 shares in the last quarter. Cetera Advisors LLC grew its position in General Motors by 233.2% in the 1st quarter. Cetera Advisors LLC now owns 177,567 shares of the auto manufacturer’s stock valued at $8,053,000 after buying an additional 124,276 shares in the last quarter. Cetera Investment Advisers grew its position in General Motors by 98.5% in the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock valued at $14,993,000 after buying an additional 164,083 shares in the last quarter. Finally, Invst LLC bought a new position in General Motors in the 1st quarter valued at about $910,000. Institutional investors and hedge funds 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.