Wedbush Increases General Motors (NYSE:GM) Price Target to $55.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective raised by Wedbush from $45.00 to $55.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the auto manufacturer’s stock. Wedbush also issued estimates for General Motors’ Q2 2024 earnings at $2.74 EPS, Q3 2024 earnings at $2.62 EPS, Q4 2024 earnings at $1.58 EPS, FY2024 earnings at $9.53 EPS, Q1 2025 earnings at $3.20 EPS, Q2 2025 earnings at $2.69 EPS, Q3 2025 earnings at $2.67 EPS, Q4 2025 earnings at $2.71 EPS and FY2025 earnings at $11.50 EPS.

A number of other research analysts also recently commented on the company. The Goldman Sachs Group boosted their target price on General Motors from $45.00 to $50.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Mizuho boosted their target price on General Motors from $48.00 to $52.00 and gave the company a buy rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on General Motors from $44.00 to $50.00 and gave the company a hold rating in a research note on Tuesday. Piper Sandler started coverage on General Motors in a research note on Friday, March 15th. They issued a neutral rating and a $44.00 target price on the stock. Finally, Barclays upped their price target on General Motors from $50.00 to $55.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $54.65.

General Motors Stock Performance

Shares of GM stock opened at $45.82 on Wednesday. General Motors has a 1-year low of $26.30 and a 1-year high of $46.17. 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 company has a market capitalization of $52.28 billion, a price-to-earnings ratio of 5.60, a P/E/G ratio of 0.52 and a beta of 1.51. The stock’s fifty day simple moving average is $42.27 and its 200-day simple moving average is $36.29.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly 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. 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 quarter in the previous year, the company posted $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 predict that General Motors will post 9.45 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. General Motors’s dividend payout ratio is presently 5.87%.

Insider Buying and Selling at General Motors

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Christopher Hatto sold 3,500 shares of the company’s 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 directly owns 12,007 shares in the company, valued at approximately $540,315. The transaction 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 the company’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 in the company, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock valued at $3,614,078 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

A number of large investors have recently bought and sold shares of GM. SouthState Corp boosted its holdings in General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the last quarter. LifeSteps Financial Inc. acquired a new position in General Motors in the first quarter valued at approximately $25,000. Highlander Capital Management LLC bought a new position in General Motors in the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. grew its holdings 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 acquiring an additional 359 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new stake in General Motors during the 1st quarter worth $32,000. 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.