General Motors (NYSE:GM) Price Target Increased to $60.00 by Analysts at Barclays

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective upped by Barclays from $55.00 to $60.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the auto manufacturer’s stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group increased their price objective on shares of General Motors from $56.00 to $58.00 and gave the company a buy rating in a research note on Wednesday. Wolfe Research raised shares of General Motors from a peer perform rating to an outperform rating and set a $42.00 target price for the company in a research report on Thursday, January 4th. Wells Fargo & Company increased their price objective on shares of General Motors from $28.00 to $30.00 and gave the company an underweight rating in a research report on Wednesday. Citigroup increased their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a buy rating in a research report on Wednesday. Finally, Wedbush raised their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an outperform 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $54.65.

General Motors Price Performance

Shares of NYSE GM opened at $45.82 on Friday. The stock has a market cap of $52.28 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.52 and a beta of 1.51. General Motors has a 52 week low of $26.30 and a 52 week high of $46.17. The company’s 50-day moving average price is $42.27 and its 200 day moving average price is $36.29. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.21 EPS. As a group, research analysts forecast that General Motors will post 9.45 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company 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 $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio is 5.87%.

Insider Activity at General Motors

In other General Motors 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 in the company, valued at $540,315. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’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 transaction, 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 worth $3,614,078 over the last 90 days. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its holdings in General Motors by 18.5% in the 4th 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 raised its stake in shares of General Motors by 361.1% in 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 during the last quarter. Foundry Partners LLC raised its stake in shares of General Motors by 15.0% in 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 during the last quarter. Public Sector Pension Investment Board raised its stake in shares of General Motors by 10.5% in 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 during the last quarter. Finally, AM Squared Ltd raised its stake in shares of General Motors by 195.0% in 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 during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

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.