General Motors (NYSE:GM) Price Target Raised to $34.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective increased by Wells Fargo & Company from $32.00 to $34.00 in a report issued on Wednesday, Benzinga reports. They currently have an underweight rating on the auto manufacturer’s stock.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada upped their target price on General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a research report on Tuesday, April 23rd. Piper Sandler upped their target price on General Motors from $44.00 to $45.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their target price on General Motors from $44.00 to $50.00 and gave the stock a hold rating in a research report on Tuesday, April 23rd. Barclays upped their target price on General Motors from $55.00 to $60.00 and gave the stock an overweight rating in a research report on Friday, April 26th. Finally, Mizuho upped their price target on General Motors from $48.00 to $52.00 and gave the stock a buy rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $56.38.

General Motors Trading Down 0.0 %

Shares of NYSE GM opened at $44.12 on Wednesday. The stock has a market cap of $49.59 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.49 and a beta of 1.43. The business has a 50 day simple moving average of $46.49 and a 200 day simple moving average of $42.97. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.97 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. The business had revenue of $47.97 billion during the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.91 EPS. On average, research analysts predict that General Motors will post 9.58 earnings per share for the current fiscal year.

General Motors declared that its board has initiated a stock repurchase program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock buyback programs are usually 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 will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 1.09%. General Motors’s dividend payout ratio is currently 5.87%.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on 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 transaction, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the sale, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Insiders sold 1,152,621 shares of company stock worth $51,818,111 over the last three months. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

Several large investors have recently made changes to their positions in GM. Norges Bank bought a new stake in shares of General Motors during the fourth quarter worth $602,280,000. Capital World Investors boosted its holdings in General Motors by 14.6% in the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock valued at $2,211,609,000 after acquiring an additional 6,201,777 shares during the last quarter. Swedbank AB bought a new position in General Motors in the first quarter valued at about $159,750,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in General Motors by 21.9% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock valued at $650,062,000 after acquiring an additional 3,247,050 shares during the last quarter. Finally, Putnam Investments LLC boosted its holdings in General Motors by 16.8% in the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after acquiring an additional 2,905,689 shares during 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.