General Motors (NYSE:GM) Price Target Increased to $56.00 by Analysts at Royal Bank of Canada

General Motors (NYSE:GM) (TSE:GMM.U) had its target price hoisted by Royal Bank of Canada from $54.00 to $56.00 in a research note released on Tuesday morning. The brokerage currently has an overweight rating on the auto manufacturer’s stock.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of General Motors from $27.00 to $28.00 and gave the stock an underweight rating in a report on Wednesday, January 31st. TheStreet raised General Motors from a c+ rating to a b- rating in a research note 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 note on Wednesday, January 31st. Tigress Financial increased their target price on General Motors from $86.00 to $88.00 and gave the company a strong-buy rating in a research note on Thursday, February 15th. Finally, Wolfe Research raised General Motors from a peer perform rating to an outperform rating and set a $42.00 target price on the stock in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors presently has a consensus rating of Moderate Buy and an average price target of $52.52.

General Motors Trading Up 4.4 %

General Motors stock opened at $45.10 on Tuesday. The stock has a market cap of $52.06 billion, a P/E ratio of 6.17, a PEG ratio of 0.50 and a beta of 1.51. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04. The firm’s fifty day moving average price is $41.86 and its 200-day moving average price is $36.06. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. The firm had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.21 earnings per share. Equities research analysts forecast that General Motors will post 9.12 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.06%. General Motors’s payout ratio is 6.57%.

Insider Transactions at General Motors

In other news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other General Motors news, 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 owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction that occurred 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 directly owns 71,506 shares of the company’s stock, valued at approximately $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 worth $3,614,078. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

A number of institutional investors and hedge funds have recently made changes to their positions in GM. SouthState Corp increased its stake 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 purchasing an additional 485 shares in the last quarter. Highlander Capital Management LLC bought a new stake in shares of General Motors during the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. increased its position in shares of General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares in the last quarter. BluePath Capital Management LLC bought a new stake in shares of General Motors during the third quarter valued at approximately $33,000. Finally, Sachetta LLC bought a new stake in shares of General Motors during the fourth quarter valued at approximately $33,000. 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.