General Motors (NYSE:GM) Price Target Raised to $52.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective increased by Mizuho from $48.00 to $52.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the auto manufacturer’s stock.

A number of other brokerages have also weighed in on GM. Tigress Financial lifted their price objective on General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a research report on Thursday, February 15th. Barclays lifted their price objective on General Motors from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Morgan Stanley lifted their price objective on General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research report on Wednesday, April 10th. Wolfe Research upgraded General Motors from a peer perform rating to an outperform rating and set a $42.00 price objective on the stock in a research report on Thursday, January 4th. Finally, Redburn Atlantic initiated coverage on General Motors in a research report on Wednesday, January 24th. They issued a neutral rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $54.65.

General Motors Price Performance

Shares of General Motors stock opened at $45.84 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The business’s 50 day simple moving average is $42.27 and its two-hundred day simple moving average is $36.32. The stock has a market capitalization of $52.30 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. General Motors has a one year low of $26.30 and a one year high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping 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 in the previous year, the firm earned $2.21 EPS. Analysts forecast that General Motors will post 9.45 EPS for the current year.

General Motors Announces Dividend

The company 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 dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. General Motors’s dividend payout ratio is presently 5.87%.

Insiders Place Their Bets

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 of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. 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. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. SouthState Corp raised its stake in shares of 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. LifeSteps Financial Inc. purchased a new position in shares of General Motors in the first quarter worth $25,000. Highlander Capital Management LLC purchased a new position in shares of General Motors in the fourth quarter worth $27,000. Cape Investment Advisory Inc. raised its stake in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the last quarter. Finally, YHB Investment Advisors Inc. purchased a new position in shares of General Motors in the first quarter worth $32,000. Hedge funds and other 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.