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

General Motors (NYSE:GM) (TSE:GMM.U) had its price target boosted by Wedbush from $45.00 to $55.00 in a research note published 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.

Other equities research analysts have also issued research reports about the stock. Mizuho upped their target price on shares of General Motors from $48.00 to $52.00 and gave the stock a buy rating in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of General Motors from $27.00 to $28.00 and gave the stock an underweight rating in a research report on Wednesday, January 31st. Morgan Stanley raised their price objective on shares of General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research report on Wednesday, April 10th. TheStreet upgraded shares of General Motors from a c+ rating to a b- rating in a research report on Tuesday, March 19th. Finally, Redburn Atlantic assumed coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a neutral rating and a $40.00 price objective for the company. One research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $54.65.

General Motors Stock Performance

NYSE:GM opened at $45.84 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 company has a fifty day moving average of $42.27 and a two-hundred day moving average of $36.32. The stock has a market capitalization of $52.30 billion, a PE ratio of 5.60, a P/E/G ratio of 0.52 and a beta of 1.51. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the prior year, the business posted $2.21 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts forecast that General Motors will post 9.45 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, June 7th. General Motors’s payout ratio is 5.87%.

Insider Activity

In other news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the firm’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 transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Unison Advisors LLC lifted its stake in General Motors by 0.4% in the first quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock worth $3,047,000 after acquiring an additional 246 shares during the last quarter. Janiczek Wealth Management LLC lifted its position in shares of General Motors by 5.2% during the 1st quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock worth $230,000 after buying an additional 248 shares during the last quarter. FinTrust Capital Advisors LLC lifted its position in shares of General Motors by 2.5% during the 4th quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer’s stock worth $399,000 after buying an additional 268 shares during the last quarter. Summit Financial LLC lifted its position in shares of General Motors by 4.3% during the 4th quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock worth $239,000 after buying an additional 273 shares during the last quarter. Finally, Sutton Place Investors LLC lifted its position in shares of General Motors by 1.7% during the 1st quarter. Sutton Place Investors LLC now owns 17,236 shares of the auto manufacturer’s stock worth $782,000 after buying an additional 280 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.