General Motors (NYSE:GM) Price Target Raised to $55.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target lifted by Wedbush from $45.00 to $55.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the auto manufacturer’s stock. Wedbush also issued estimates for General Motors’ Q2 2024 earnings at $2.74 EPS, Q3 2024 earnings at $2.62 EPS, Q4 2024 earnings at $1.58 EPS, FY2024 earnings at $9.53 EPS, Q1 2025 earnings at $3.20 EPS, Q2 2025 earnings at $2.69 EPS, Q3 2025 earnings at $2.67 EPS, Q4 2025 earnings at $2.71 EPS and FY2025 earnings at $11.50 EPS.

Several other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Motors from $44.00 to $50.00 and gave the stock a hold rating in a research report on Tuesday, April 23rd. TheStreet upgraded shares of General Motors from a c+ rating to a b- rating in a research report on Tuesday, March 19th. Barclays increased their price target on shares of 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 initiated coverage on shares of General Motors in a research report on Wednesday, January 24th. They issued a neutral rating and a $40.00 price target on the stock. Finally, Mizuho increased their price target on shares of General Motors from $48.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $54.65.

General Motors Stock Up 0.5 %

Shares of General Motors stock opened at $45.84 on Wednesday. The company has a market cap of $52.30 billion, a price-to-earnings ratio of 5.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company’s 50 day moving average is $42.27 and its 200 day moving average is $36.32. General Motors has a twelve month low of $26.30 and a twelve month high of $46.17. 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 (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Research analysts anticipate that General Motors will post 9.45 EPS for the current year.

General Motors Dividend Announcement

The business 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 dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.05%. General Motors’s payout ratio is 5.87%.

Insider Activity at General Motors

In related news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,248 shares of company stock valued at $3,614,078. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

Institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its holdings 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 worth $17,064,000 after acquiring an additional 74,194 shares during the last quarter. Cerity Partners LLC lifted its holdings in 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 in the last quarter. Foundry Partners LLC increased its position in General Motors by 15.0% during the 3rd quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock valued at $12,992,000 after purchasing an additional 51,336 shares during the period. Public Sector Pension Investment Board increased its position in General Motors by 10.5% during 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 purchasing an additional 14,002 shares during the period. Finally, AM Squared Ltd increased its position in General Motors by 195.0% during the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after purchasing an additional 27,300 shares during the period. 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.