General Motors (NYSE:GM) Price Target Raised to $30.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective lifted by Wells Fargo & Company from $28.00 to $30.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an underweight rating on the auto manufacturer’s stock.

Other research analysts also recently issued reports about the company. Morgan Stanley boosted their target price on General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Tigress Financial boosted their target price on General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a research note on Thursday, February 15th. Barclays lifted their price target on General Motors from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Wedbush lifted their price target on General Motors from $45.00 to $55.00 and gave the stock an outperform rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on General Motors from $44.00 to $50.00 and gave the stock a hold rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $54.65.

General Motors Trading Up 0.4 %

Shares of NYSE GM opened at $45.82 on Wednesday. General Motors has a twelve month low of $26.30 and a twelve month high of $46.17. The business has a fifty day simple moving average of $42.27 and a two-hundred day simple moving average of $36.29. The firm has a market cap of $52.28 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

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 analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same period last year, the business posted $2.21 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. Analysts expect that General Motors will post 9.45 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares in the company, valued at $540,315. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the sale, the executive vice president now owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 over the last quarter. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On General Motors

A number of hedge funds have recently added to or reduced their stakes in the company. Arkadios Wealth Advisors acquired a new stake in shares of General Motors during the 3rd quarter valued at approximately $249,000. Impact Partnership Wealth LLC raised its position in shares of General Motors by 53.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,649 shares of the auto manufacturer’s stock worth $54,000 after purchasing an additional 577 shares during the last quarter. Founders Financial Securities LLC raised its position in shares of General Motors by 6.6% during the 3rd quarter. Founders Financial Securities LLC now owns 14,472 shares of the auto manufacturer’s stock worth $477,000 after purchasing an additional 890 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of General Motors by 11,739.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 212,631 shares of the auto manufacturer’s stock worth $7,010,000 after purchasing an additional 210,835 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of General Motors during the 3rd quarter worth approximately $122,000. 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.