General Motors (NYSE:GM) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research report report published on Thursday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $55.00 target price on the auto manufacturer’s stock.

Several other equities research analysts also recently issued reports on GM. Piper Sandler raised their price objective on shares of General Motors from $44.00 to $45.00 and gave the stock a neutral rating in a research report on Wednesday. Royal Bank of Canada lifted their price objective on shares of General Motors from $54.00 to $56.00 and gave the company an overweight rating in a research note on Tuesday. Citigroup boosted their target price on shares of General Motors from $95.00 to $96.00 and gave the stock a buy rating in a research note on Wednesday. Tigress Financial boosted their price objective on shares of General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a research note on Thursday, February 15th. 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, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $54.38.

General Motors Stock Performance

Shares of GM opened at $45.62 on Thursday. The firm has a fifty day simple moving average of $42.13 and a 200 day simple moving average of $36.19. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $52.05 billion, a price-to-earnings ratio of 5.58, a PEG ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same period last year, the business posted $2.21 EPS. General Motors’s revenue was up 7.6% on a year-over-year basis. Research analysts forecast that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be issued a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.05%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Transactions at General Motors

In related news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred 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 completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the business’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 transaction, the executive vice president now owns 71,506 shares in the company, valued at $3,236,361.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock worth $3,614,078 over the last three months. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GM. SouthState Corp lifted its position in shares of General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after buying an additional 485 shares during the last quarter. Highlander Capital Management LLC acquired a new stake in shares of General Motors during the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. grew its stake in shares of General Motors by 75.9% during the 4th 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 period. BluePath Capital Management LLC acquired a new stake in General Motors in the 3rd quarter valued at $33,000. Finally, Sachetta LLC purchased a new stake in General Motors in the 4th quarter worth $33,000. 92.67% of the stock is currently owned by institutional investors.

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.