Mizuho Raises General Motors (NYSE:GM) Price Target to $48.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price raised by Mizuho from $44.00 to $48.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the auto manufacturer’s stock.

Several other analysts have also weighed in on GM. Royal Bank of Canada raised their price objective on General Motors from $52.00 to $54.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. Piper Sandler initiated coverage on General Motors in a research report on Friday, March 15th. They issued a neutral rating and a $44.00 target price for the company. TheStreet upgraded General Motors from a c+ rating to a b- rating in a research report on Tuesday, March 19th. The Goldman Sachs Group increased their target price on General Motors from $45.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Finally, Barclays raised their price objective on General Motors from $37.00 to $44.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $50.63.

General Motors Stock Performance

GM opened at $45.33 on Monday. The firm has a market cap of $52.33 billion, a P/E ratio of 6.20, a price-to-earnings-growth ratio of 0.54 and a beta of 1.50. General Motors has a 52-week low of $26.30 and a 52-week high of $45.53. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. The business’s fifty day moving average is $39.27 and its 200-day moving average is $34.53.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.08. The business had revenue of $42.98 billion for the quarter, compared to analyst estimates of $38.81 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. General Motors’s revenue was down .3% compared to the same quarter last year. During the same period last year, the firm posted $2.12 earnings per share. Sell-side analysts expect that General Motors will post 9 EPS for the current fiscal year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were given a dividend of $0.12 per share. This is a boost from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.06%. General Motors’s payout ratio is presently 6.57%.

Insider Buying and Selling

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a filing 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 value of $219,504.00. Following the completion of the sale, the executive vice president now owns 12,658 shares in the company, valued at $544,800.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,626 shares of company stock worth $2,229,036. 0.54% of the stock is owned by company insiders.

Institutional Trading of General Motors

A number of hedge funds and other institutional investors have recently made changes to their positions in GM. Norges Bank purchased a new position in General Motors during the fourth quarter worth about $602,280,000. Price T Rowe Associates Inc. MD lifted its stake in shares of General Motors by 80.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock valued at $538,747,000 after acquiring an additional 6,548,022 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of General Motors by 454.3% in the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock valued at $171,961,000 after acquiring an additional 4,275,293 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of 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 valued at $650,062,000 after acquiring an additional 3,247,050 shares during the last quarter. Finally, Putnam Investments LLC lifted its stake in shares of General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after acquiring an additional 2,905,689 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

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.