Citigroup Increases General Motors (NYSE:GM) Price Target to $96.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target lifted by Citigroup from $95.00 to $96.00 in a report released on Wednesday, Benzinga reports. Citigroup currently has a buy rating on the auto manufacturer’s stock.

GM has been the subject of several other reports. Wedbush lifted their price target on General Motors from $45.00 to $55.00 and gave the company an outperform rating in a research report on Wednesday. Piper Sandler lifted their price target on General Motors from $44.00 to $45.00 and gave the company a neutral rating in a research report on Wednesday. Royal Bank of Canada lifted their price target on General Motors from $54.00 to $56.00 and gave the company an overweight rating in a research report on Tuesday. Tigress Financial raised their price objective on General Motors from $86.00 to $88.00 and gave the company a strong-buy rating in a report on Thursday, February 15th. Finally, Mizuho raised their price objective on General Motors from $48.00 to $52.00 and gave the company a buy rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Motors presently has an average rating of Moderate Buy and an average target price of $54.35.

General Motors Price Performance

Shares of NYSE GM opened at $45.07 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 market cap of $52.03 billion, a PE ratio of 5.51, a P/E/G ratio of 0.53 and a beta of 1.51. The business has a 50-day simple moving average of $42.00 and a two-hundred day simple moving average of $36.12. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period last year, the business posted $2.21 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that General Motors will post 9.26 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insiders Place Their Bets

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gerald Johnson sold 15,190 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the sale, the executive vice president now owns 98,628 shares in the company, valued at approximately $3,948,078.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

Institutional investors and hedge funds have recently modified their holdings of the company. Handelsbanken Fonder AB raised 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 valued at $17,064,000 after buying an additional 74,194 shares during the period. Cerity Partners LLC increased 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 worth $4,300,000 after purchasing an additional 93,754 shares during the period. Foundry Partners LLC increased its holdings in General Motors by 15.0% during the 3rd quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after purchasing an additional 51,336 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of General Motors by 10.5% in 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 buying an additional 14,002 shares during the period. Finally, AM Squared Ltd boosted its stake in shares of General Motors by 195.0% in the 4th quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after buying an additional 27,300 shares during the period. 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.