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

General Motors (NYSE:GM) (TSE:GMM.U) had its target price raised by Citigroup from $95.00 to $96.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the auto manufacturer’s stock.

Several other research analysts have also issued reports on the stock. Royal Bank of Canada raised their target price on shares of General Motors from $54.00 to $56.00 and gave the company an overweight rating in a research note on Tuesday, April 23rd. Tigress Financial raised their target price on shares of General Motors from $86.00 to $88.00 and gave the company a strong-buy rating in a research note on Thursday, February 15th. Wells Fargo & Company increased their price target on shares of General Motors from $28.00 to $30.00 and gave the company an underweight rating in a research report on Wednesday. Redburn Atlantic initiated coverage on shares of General Motors in a research report on Wednesday, January 24th. They issued a neutral rating and a $40.00 price target on the stock. Finally, UBS Group increased their price target on shares of General Motors from $56.00 to $58.00 and gave the company a buy rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, General Motors has an average rating of Moderate Buy and an average target price of $54.65.

General Motors Stock Up 0.5 %

Shares of NYSE:GM opened at $45.84 on Wednesday. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17. The company’s 50-day moving average price is $42.27 and its two-hundred day moving average price is $36.32. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The firm has a market cap of $52.30 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 6.13% and a return on equity of 14.40%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.21 EPS. As a group, research analysts forecast that General Motors will post 9.45 EPS for the current fiscal year.

General Motors Announces Dividend

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

Insider Activity at General Motors

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at $540,315. The disclosure for this sale can be found here. Over the last three months, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Several institutional investors and hedge funds have recently modified their holdings of the business. Pinnacle Associates Ltd. grew its stake in shares of General Motors by 1.7% in the first quarter. Pinnacle Associates Ltd. now owns 42,478 shares of the auto manufacturer’s stock valued at $1,926,000 after acquiring an additional 725 shares in the last quarter. LifeSteps Financial Inc. acquired a new position in shares of General Motors in the first quarter valued at about $25,000. YHB Investment Advisors Inc. acquired a new position in shares of General Motors in the first quarter valued at about $32,000. ZWJ Investment Counsel Inc. grew its stake in shares of General Motors by 5.5% in the first quarter. ZWJ Investment Counsel Inc. now owns 374,439 shares of the auto manufacturer’s stock valued at $16,981,000 after acquiring an additional 19,375 shares in the last quarter. Finally, Clear Creek Financial Management LLC grew its stake in shares of General Motors by 14.5% in the first quarter. Clear Creek Financial Management LLC now owns 9,475 shares of the auto manufacturer’s stock valued at $424,000 after acquiring an additional 1,198 shares in the last quarter. 92.67% of the stock is currently 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.