General Motors (NYSE:GM) Trading Up 0.1% on Analyst Upgrade

Shares of General Motors (NYSE:GM) (TSE:GMM.U) shot up 0.1% during mid-day trading on Thursday after Barclays raised their price target on the stock from $55.00 to $60.00. Barclays currently has an overweight rating on the stock. General Motors traded as high as $45.35 and last traded at $45.12. 4,548,689 shares changed hands during trading, a decline of 74% from the average session volume of 17,389,449 shares. The stock had previously closed at $45.08.

A number of other research analysts also recently issued reports on the company. Citigroup raised their price target on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday. Mizuho upped their target price on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler raised their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Royal Bank of Canada upped their price objective on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.65.

Insider Transactions at General Motors

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Christopher Hatto sold 15,510 shares of the business’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. Insiders have sold 86,248 shares of company stock valued at $3,614,078 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Several large investors have recently added to or reduced their stakes in the business. LifeSteps Financial Inc. acquired a new stake in shares of General Motors in the first quarter worth approximately $25,000. YHB Investment Advisors Inc. purchased a new stake in General Motors during the first quarter worth approximately $32,000. Highlander Capital Management LLC acquired a new stake in shares of General Motors in the fourth quarter worth $27,000. SouthState Corp raised its stake in shares of General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the period. Finally, Riverview Trust Co purchased a new stake in General Motors during the 1st quarter worth $38,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Up 0.4 %

The firm has a 50-day simple moving average of $42.27 and a 200 day simple moving average of $36.29. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The company has a market capitalization of $52.28 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS 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 analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.21 EPS. On average, research analysts predict that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Announces Dividend

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

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.