General Motors (NYSE:GM) Price Target Increased to $55.00 by Analysts at Wedbush

General Motors (NYSE:GM) (TSE:GMM.U) had its price target increased by Wedbush from $45.00 to $55.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the auto manufacturer’s stock.

Several other equities analysts have also weighed in on the company. Wolfe Research raised General Motors from a peer perform rating to an outperform rating and set a $42.00 price objective on the stock in a research note on Thursday, January 4th. Royal Bank of Canada lifted their price objective on General Motors from $54.00 to $56.00 and gave the company an overweight rating in a research note on Tuesday. Redburn Atlantic initiated coverage on General Motors in a research note on Wednesday, January 24th. They issued a neutral rating and a $40.00 price objective on the stock. Morgan Stanley lifted their price objective on General Motors from $43.00 to $46.00 and gave the company an overweight rating in a research note on Wednesday, April 10th. Finally, Piper Sandler started coverage on General Motors in a research report on Friday, March 15th. They set a neutral rating and a $44.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $54.35.

General Motors Trading Down 0.1 %

Shares of GM opened at $45.07 on Wednesday. The stock’s fifty day simple moving average is $42.00 and its 200 day simple moving average is $36.12. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $52.03 billion, a P/E ratio of 5.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.21 EPS. On average, equities research analysts forecast that General Motors will post 9.26 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, June 7th. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares in the company, valued at approximately $544,800.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $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 valued at $3,614,078 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

Institutional investors have recently made changes to their positions in the company. SouthState Corp grew its stake in General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after buying an additional 485 shares during the last quarter. Highlander Capital Management LLC bought a new position in General Motors during the 4th quarter worth $27,000. Cape Investment Advisory Inc. grew its stake in General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 359 shares during the last quarter. BluePath Capital Management LLC bought a new position in General Motors during the 3rd quarter worth $33,000. Finally, Sachetta LLC bought a new position in General Motors during the 4th quarter worth $33,000. 92.67% of the stock is currently owned by institutional investors.

About General Motors

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.