General Motors (NYSE:GM) Price Target Raised to $55.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective raised by Sanford C. Bernstein from $53.00 to $55.00 in a research note released on Friday morning, Benzinga reports. They currently have a market perform rating on the auto manufacturer’s stock.

Several other equities research analysts have also recently issued reports on the stock. Wedbush lifted their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research report on Friday, October 11th. The Goldman Sachs Group lifted their price objective on shares of General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada lifted their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their price objective on shares of General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, General Motors has an average rating of “Hold” and a consensus price target of $56.92.

General Motors Price Performance

Shares of NYSE:GM opened at $52.07 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 0.99. General Motors has a 1-year low of $26.30 and a 1-year high of $54.29. The company has a market capitalization of $58.52 billion, a P/E ratio of 5.55, a P/E/G ratio of 0.60 and a beta of 1.42. The firm’s 50 day simple moving average is $47.81 and its two-hundred day simple moving average is $46.21.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the previous year, the firm earned $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts expect that General Motors will post 10.05 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Insider Activity

In other news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 531,228 shares of company stock valued at $28,267,714. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. OneAscent Wealth Management LLC bought a new position in General Motors during the 1st quarter worth about $241,000. Vicus Capital grew its holdings in General Motors by 22.2% during the 1st quarter. Vicus Capital now owns 10,285 shares of the auto manufacturer’s stock worth $466,000 after acquiring an additional 1,870 shares in the last quarter. Founders Financial Securities LLC grew its holdings in General Motors by 21.8% during the 1st quarter. Founders Financial Securities LLC now owns 19,614 shares of the auto manufacturer’s stock worth $889,000 after acquiring an additional 3,510 shares in the last quarter. Dumont & Blake Investment Advisors LLC grew its holdings in General Motors by 1.5% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 21,723 shares of the auto manufacturer’s stock worth $985,000 after acquiring an additional 311 shares in the last quarter. Finally, HFG Advisors Inc. bought a new position in General Motors during the 1st quarter worth about $341,000. 92.67% of the stock is currently owned by 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.