Royal Bank Of Canada Boosts General Motors Company (GM) Price Target to $44.00

General Motors Company (NYSE:GM) (TSE:GMM.U) had its target price raised by Royal Bank Of Canada from $38.00 to $44.00 in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a sector perform rating on the auto manufacturer’s stock.

A number of other equities analysts have also commented on the company. BidaskClub upgraded General Motors from a buy rating to a strong-buy rating in a research note on Wednesday, July 19th. ValuEngine upgraded General Motors from a buy rating to a strong-buy rating in a research note on Friday, July 28th. Piper Jaffray Companies reiterated a buy rating and issued a $44.00 price objective on shares of General Motors in a research note on Tuesday, September 12th. Vetr lowered General Motors from a buy rating to a hold rating and set a $37.42 price objective on the stock. in a research note on Monday, July 17th. Finally, CLSA initiated coverage on General Motors in a research note on Wednesday, June 21st. They issued a hold rating and a $37.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have issued a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $41.35.

Shares of General Motors (NYSE:GM) traded up 2.46% on Thursday, reaching $44.93. The company had a trading volume of 21,024,603 shares. General Motors has a 52-week low of $30.21 and a 52-week high of $45.17. The company has a 50-day moving average price of $38.49 and a 200-day moving average price of $35.52. The firm has a market capitalization of $65.47 billion, a PE ratio of 7.81 and a beta of 1.45.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $36.98 billion for the quarter, compared to analyst estimates of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 earnings per share. Equities research analysts forecast that General Motors will post $6.13 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, September 7th. General Motors’s payout ratio is currently 26.48%.

In other news, VP Thomas S. Timko sold 17,255 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.79, for a total value of $617,556.45. Following the transaction, the vice president now directly owns 26,100 shares of the company’s stock, valued at approximately $934,119. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia F. Russo bought 10,000 shares of General Motors stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average cost of $34.73 per share, for a total transaction of $347,300.00. Following the completion of the acquisition, the director now directly owns 12,300 shares in the company, valued at $427,179. The disclosure for this purchase can be found here. Insiders sold a total of 842,901 shares of company stock worth $31,928,733 over the last three months. 0.04% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in GM. Berkshire Hathaway Inc. boosted its holdings in shares of General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after acquiring an additional 10,000,000 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of General Motors by 290.9% in the 2nd quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock worth $357,944,000 after acquiring an additional 7,625,809 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of General Motors by 26,374.8% in the 1st quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock worth $140,394,000 after acquiring an additional 3,955,426 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of General Motors by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock worth $3,262,952,000 after acquiring an additional 3,560,717 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of General Motors by 129.2% in the 1st quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock worth $214,576,000 after acquiring an additional 3,420,200 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

General Motors Company Profile

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

Analyst Recommendations for General Motors (NYSE:GM)

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