General Motors (NYSE:GM) Given New $96.00 Price Target at Citigroup

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective hoisted by Citigroup from $95.00 to $96.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the auto manufacturer’s stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group raised their price objective on shares of General Motors from $45.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Piper Sandler raised their target price on shares of General Motors from $44.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday. Barclays raised their target price on shares of General Motors from $50.00 to $55.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Wolfe Research raised shares of General Motors from a peer perform rating to an outperform rating and set a $42.00 target price on the stock in a research note on Thursday, January 4th. Finally, TheStreet raised shares of General Motors from a c+ rating to a b- rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, General Motors currently has an average rating of Moderate Buy and an average target price of $54.35.

General Motors Trading Down 0.1 %

Shares of GM opened at $45.07 on Wednesday. The business’s 50-day moving average price is $42.00 and its 200-day moving average price is $36.12. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04. The stock has a market cap of $52.03 billion, a PE ratio of 5.51, a P/E/G ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last released 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. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same period last year, the business earned $2.21 earnings per share. General Motors’s revenue was up 7.6% compared to the same quarter last year. On average, equities analysts forecast that General Motors will post 9.26 EPS for the current fiscal year.

General Motors Dividend Announcement

The business 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 1.07%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 5,100 shares of General Motors stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total value of $219,504.00. Following the sale, the executive vice president now owns 12,658 shares in the company, valued at $544,800.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the sale, the executive vice president now owns 12,658 shares in the company, valued at approximately $544,800.32. 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 quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of General Motors

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in General Motors by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after buying an additional 1,580,681 shares during the last quarter. Putnam Investments LLC raised its position in General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after buying an additional 3,247,050 shares during the last quarter. Norges Bank purchased a new position in General Motors in the 4th quarter worth about $602,280,000. Finally, Morgan Stanley raised its position in General Motors by 1.3% in the 3rd quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after buying an additional 201,080 shares during the last quarter. 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.