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

General Motors (NYSE:GM) (TSE:GMM.U) had its target price boosted by Barclays from $45.00 to $55.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the auto manufacturer’s stock.

GM has been the subject of several other research reports. CLSA raised General Motors to a “moderate buy” rating in a research note on Monday, July 7th. Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a research report on Monday, May 5th. Mizuho increased their target price on shares of General Motors from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Citigroup initiated coverage on shares of General Motors in a research report on Wednesday, April 23rd. They set a “buy” rating and a $62.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and a consensus price target of $55.17.

General Motors Trading Up 0.0%

Shares of General Motors stock opened at $53.23 on Wednesday. The firm has a 50-day moving average of $50.02 and a 200-day moving average of $48.74. The stock has a market cap of $51.18 billion, a PE ratio of 7.67, a PEG ratio of 1.43 and a beta of 1.32. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.04 and a current ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. The firm had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.62 earnings per share. As a group, sell-side analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 6th. General Motors’s payout ratio is presently 8.65%.

Institutional Investors Weigh In On General Motors

A number of hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in General Motors in the 4th quarter worth about $592,321,000. AQR Capital Management LLC increased its holdings in General Motors by 146.8% in the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock worth $629,196,000 after acquiring an additional 8,012,743 shares during the last quarter. Vanguard Group Inc. increased its holdings in General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock worth $4,672,023,000 after acquiring an additional 6,395,375 shares during the last quarter. Nuveen LLC purchased a new stake in General Motors in the 1st quarter worth about $175,889,000. Finally, Kingstone Capital Partners Texas LLC purchased a new position in General Motors during the 2nd quarter valued at about $125,583,000. 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.