General Motors (NYSE:GM) Trading Up 0.1% on Analyst Upgrade

General Motors (NYSE:GM) (TSE:GMM.U) shares traded up 0.1% during mid-day trading on Thursday after Barclays raised their price target on the stock from $55.00 to $60.00. Barclays currently has an overweight rating on the stock. General Motors traded as high as $45.35 and last traded at $45.12. 4,548,689 shares changed hands during trading, a decline of 74% from the average session volume of 17,389,449 shares. The stock had previously closed at $45.08.

Other equities analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research note on Thursday. Wedbush increased their target price on General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler boosted their price target on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday. Sanford C. Bernstein started coverage on shares of General Motors in a report on Thursday. They issued an “outperform” rating and a $55.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.65.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction dated 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 sale, the chief accounting officer now directly owns 12,007 shares in the company, valued at $540,315. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by company insiders.

Institutional Trading of General Motors

A number of institutional investors have recently modified their holdings of GM. SouthState Corp boosted its position in General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in shares of General Motors in the first quarter worth $25,000. Highlander Capital Management LLC bought a new stake in shares of General Motors in the fourth quarter worth $27,000. Cape Investment Advisory Inc. boosted its holdings in General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in General Motors in the first quarter valued at $32,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Up 0.4 %

The firm’s 50-day simple moving average is $42.27 and its 200 day simple moving average is $36.29. 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 stock has a market capitalization of $52.28 billion, a P/E ratio of 5.60, a PEG ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. General Motors’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.21 earnings per share. As a group, research analysts expect that General Motors will post 9.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a $0.12 dividend. 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%.

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.