Citigroup Raises General Motors (NYSE:GM) Price Target to $96.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target hoisted by Citigroup from $95.00 to $96.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the auto manufacturer’s stock.

Other equities research analysts have also issued reports about the company. Wedbush lifted their target price on General Motors from $45.00 to $55.00 and gave the company an outperform rating in a research report on Wednesday. Piper Sandler boosted their price target on General Motors from $44.00 to $45.00 and gave the stock a neutral rating in a research report on Wednesday. The Goldman Sachs Group boosted their price target on General Motors from $45.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. UBS Group boosted their price target on General Motors from $56.00 to $58.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price target on General Motors from $28.00 to $30.00 and gave the stock an underweight rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, General Motors currently has an average rating of Moderate Buy and an average target price of $54.65.

General Motors Trading Up 0.4 %

Shares of NYSE GM opened at $45.82 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. 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. General Motors has a twelve month low of $26.30 and a twelve month high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during 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%. General Motors’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 EPS. 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 announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s payout ratio is 5.87%.

Insider Transactions at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated 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 owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares in the company, valued at $3,236,361.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the 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 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 86,248 shares of company stock worth $3,614,078 over the last quarter. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Motors

Hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB boosted its position in General Motors by 18.5% during the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after purchasing an additional 74,194 shares in the last quarter. Cerity Partners LLC boosted its position in General Motors by 361.1% during the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after purchasing an additional 93,754 shares in the last quarter. Foundry Partners LLC boosted its position in General Motors by 15.0% during the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after purchasing an additional 51,336 shares in the last quarter. Public Sector Pension Investment Board boosted its position in General Motors by 10.5% during the third quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after purchasing an additional 14,002 shares in the last quarter. Finally, AM Squared Ltd boosted its position in General Motors by 195.0% during the fourth quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock worth $1,483,000 after purchasing an additional 27,300 shares in the last quarter. 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.