Wedbush Boosts 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 report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the auto manufacturer’s stock.

Other analysts also recently issued research reports about the company. Barclays raised their price objective on General Motors from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Redburn Atlantic assumed coverage on General Motors in a research report on Wednesday, January 24th. They issued a neutral rating and a $40.00 price objective for the company. Piper Sandler assumed coverage on General Motors in a research report on Friday, March 15th. They issued a neutral rating and a $44.00 price objective for the company. Tigress Financial raised their price objective on General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a research report on Thursday, February 15th. Finally, Wells Fargo & Company raised their price objective on General Motors from $27.00 to $28.00 and gave the stock an underweight rating in a research report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors has a consensus rating of Moderate Buy and a consensus target price of $54.35.

General Motors Stock Performance

Shares of NYSE GM opened at $45.07 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. The firm has a market cap of $52.03 billion, a price-to-earnings ratio of 5.51, a P/E/G ratio of 0.53 and a beta of 1.51. The business’s 50-day simple moving average is $42.00 and its 200-day simple moving average is $36.12. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04.

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 business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 EPS. As a group, equities research analysts expect that General Motors will post 9.26 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm 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 dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. General Motors’s dividend payout ratio is 5.87%.

Insider Activity at General Motors

In related news, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The stock was 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 directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at $544,800.32. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 in the last three months. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

Hedge funds and other institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB increased its stake in shares of General Motors by 18.5% in 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. Cerity Partners LLC increased its stake in shares of General Motors by 361.1% in 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. Foundry Partners LLC increased its stake in shares of General Motors by 15.0% in the 3rd quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock valued at $12,992,000 after buying an additional 51,336 shares during the period. Public Sector Pension Investment Board increased its stake in shares of General Motors by 10.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock valued at $4,859,000 after buying an additional 14,002 shares during the period. Finally, AM Squared Ltd boosted its position in shares of General Motors by 195.0% in the 4th 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.

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.