General Motors (NYSE:GM) Price Target Increased to $56.00 by Analysts at Royal Bank of Canada

General Motors (NYSE:GM) (TSE:GMM.U) had its price target boosted by Royal Bank of Canada from $54.00 to $56.00 in a research note published on Tuesday. The brokerage currently has an overweight rating on the auto manufacturer’s stock.

Other research analysts have also recently issued reports about the company. Tigress Financial increased their price target on General Motors from $86.00 to $88.00 and gave the company a strong-buy rating in a research report on Thursday, February 15th. Wells Fargo & Company increased their price target on General Motors from $27.00 to $28.00 and gave the company an underweight rating in a research report on Wednesday, January 31st. Morgan Stanley increased their price target on General Motors from $43.00 to $46.00 and gave the company an overweight rating in a research report on Wednesday, April 10th. TheStreet raised General Motors from a c+ rating to a b- rating in a research report on Tuesday, March 19th. Finally, Mizuho raised their price objective on General Motors from $44.00 to $48.00 and gave the company a buy rating in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $52.52.

General Motors Stock Up 4.4 %

GM stock opened at $45.10 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. The stock has a market capitalization of $52.06 billion, a P/E ratio of 6.17, a P/E/G ratio of 0.50 and a beta of 1.51. The business has a 50-day moving average of $41.86 and a 200-day moving average of $36.06. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. General Motors’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that General Motors will post 9.12 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. General Motors’s dividend payout ratio (DPR) is currently 6.57%.

Insiders Place Their Bets

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Gerald Johnson sold 27,122 shares of General Motors 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 transaction, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock worth $3,614,078 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

Hedge funds and other institutional investors have recently modified their holdings of the business. Highlander Capital Management LLC bought a new position in shares of General Motors in the 4th quarter valued at $27,000. SouthState Corp increased its stake in shares of General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of General Motors during the 1st quarter valued at $38,000. Cape Investment Advisory Inc. boosted its holdings in shares of General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares in the last quarter. Finally, Sachetta LLC acquired a new stake in shares of General Motors during the 4th quarter valued at $33,000. 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.