General Motors (NYSE:GM) Price Target Raised to $32.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price lifted by Wells Fargo & Company from $30.00 to $32.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has an underweight rating on the auto manufacturer’s stock.

GM has been the topic of a number of other research reports. Morgan Stanley boosted their price objective on General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Royal Bank of Canada boosted their price objective on General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a research note on Tuesday, April 23rd. Mizuho upped their price target on General Motors from $48.00 to $52.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Citigroup upped their price target on General Motors from $95.00 to $96.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Finally, Wedbush upped their price target on General Motors from $45.00 to $55.00 and gave the company an outperform rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $54.91.

General Motors Stock Performance

Shares of NYSE:GM opened at $45.59 on Tuesday. The business’s fifty day moving average price is $45.45 and its two-hundred day moving average price is $41.23. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The stock has a market capitalization of $52.02 billion, a price-to-earnings ratio of 5.57, a price-to-earnings-growth ratio of 0.49 and a beta of 1.46. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.21 earnings per share. As a group, analysts predict that General Motors will post 9.43 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s payout ratio is presently 5.87%.

General Motors declared that its board has initiated a share buyback program on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 626,316 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is owned by corporate insiders.

Institutional Trading of General Motors

Several hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in General Motors by 13.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,460 shares of the auto manufacturer’s stock worth $288,000 after purchasing an additional 752 shares during the last quarter. Soltis Investment Advisors LLC lifted its holdings in General Motors by 588.0% during the 1st quarter. Soltis Investment Advisors LLC now owns 126,153 shares of the auto manufacturer’s stock worth $5,721,000 after purchasing an additional 107,816 shares during the last quarter. Cetera Advisors LLC lifted its holdings in General Motors by 233.2% during the 1st quarter. Cetera Advisors LLC now owns 177,567 shares of the auto manufacturer’s stock worth $8,053,000 after purchasing an additional 124,276 shares during the last quarter. Cetera Investment Advisers lifted its holdings in General Motors by 98.5% during the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock worth $14,993,000 after purchasing an additional 164,083 shares during the last quarter. Finally, Invst LLC acquired a new stake in General Motors during the 1st quarter worth approximately $910,000. 92.67% of the stock is owned by institutional investors and hedge funds.

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.