General Motors (NYSE:GM) PT Raised to $34.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price raised by Wells Fargo & Company from $32.00 to $34.00 in a report published on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the auto manufacturer’s stock.

A number of other research firms also recently issued reports on GM. Piper Sandler lifted their price objective on shares of General Motors from $44.00 to $45.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Wedbush lifted their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. Mizuho lifted their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Sanford C. Bernstein began coverage on shares of General Motors in a report on Thursday, April 25th. They set an outperform rating and a $55.00 price objective for the company. Finally, Royal Bank of Canada increased their price target on shares of General Motors from $54.00 to $56.00 and gave the company an overweight rating in a research report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $56.38.

General Motors Stock Down 0.0 %

Shares of NYSE:GM opened at $44.12 on Wednesday. The firm has a fifty day moving average price of $46.49 and a two-hundred day moving average price of $43.01. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.97. General Motors has a one year low of $26.30 and a one year high of $50.50. The company has a market cap of $49.59 billion, a price-to-earnings ratio of 5.39, a PEG ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same period last year, the firm earned $1.91 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts anticipate that General Motors will post 9.93 EPS for the current fiscal year.

General Motors announced that its board has approved a stock buyback program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.09%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 326,305 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the transaction, the chief executive officer now owns 898,648 shares in the company, valued at $43,431,657.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 326,305 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total value of $15,770,320.65. Following the completion of the transaction, the chief executive officer now directly owns 898,648 shares in the company, valued at $43,431,657.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado lifted its position in General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after acquiring an additional 2,035,925 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of General Motors by 18.5% during the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after buying an additional 74,194 shares during the period. US Bancorp DE lifted its holdings in shares of General Motors by 59.3% during the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after buying an additional 32,331 shares during the period. GSA Capital Partners LLP lifted its holdings in shares of General Motors by 317.6% during the 4th quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after buying an additional 51,571 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of General Motors by 361.1% during the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after buying an additional 93,754 shares during the period. 92.67% of the stock is owned by institutional investors.

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.