General Motors (NYSE:GM) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note released on Thursday morning, MarketBeat.com reports. The firm issued an outperform rating and a $55.00 target price on the auto manufacturer’s stock.

A number of other equities analysts have also weighed in on GM. Wedbush upped their target price on General Motors from $45.00 to $55.00 and gave the stock an outperform rating in a research report on Wednesday, April 24th. Wells Fargo & Company upped their target price on General Motors from $28.00 to $30.00 and gave the stock an underweight rating in a research report on Wednesday, April 24th. Royal Bank of Canada upped their target price on General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a research report on Tuesday, April 23rd. Morgan Stanley upped their target price on General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research report on Wednesday, April 10th. Finally, Citigroup increased their price target on General Motors from $95.00 to $96.00 and gave the company a buy rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Motors has an average rating of Moderate Buy and a consensus price target of $54.65.

General Motors Price Performance

General Motors stock opened at $45.84 on Thursday. The stock has a market capitalization of $52.30 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.53 and a beta of 1.51. General Motors has a 52-week low of $26.30 and a 52-week high of $46.17. The stock’s 50 day moving average price is $42.27 and its two-hundred day moving average price is $36.36. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the prior year, the business earned $2.21 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts predict that General Motors will post 9.45 earnings per share for the current year.

General Motors Dividend Announcement

The firm 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 $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Buying and Selling at General Motors

In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction on Monday, February 26th. The stock was 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 owns 21,507 shares in the company, valued at approximately $860,710.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction on Monday, February 26th. The stock was 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 owns 21,507 shares in the company, valued at approximately $860,710.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock worth $3,614,078 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Institutional Trading of General Motors

Several institutional investors and hedge funds have recently modified their holdings of GM. Impact Partnership Wealth LLC raised its holdings in shares of General Motors by 53.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,649 shares of the auto manufacturer’s stock valued at $54,000 after acquiring an additional 577 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in shares of General Motors during the 3rd quarter valued at about $122,000. Caprock Group LLC raised its holdings in shares of General Motors by 8.8% during the 3rd quarter. Caprock Group LLC now owns 21,652 shares of the auto manufacturer’s stock valued at $714,000 after buying an additional 1,757 shares in the last quarter. CX Institutional raised its holdings in shares of General Motors by 4.2% during the 3rd quarter. CX Institutional now owns 10,675 shares of the auto manufacturer’s stock valued at $352,000 after buying an additional 431 shares in the last quarter. Finally, Czech National Bank raised its holdings in shares of General Motors by 46.1% during the 3rd quarter. Czech National Bank now owns 240,480 shares of the auto manufacturer’s stock valued at $7,929,000 after buying an additional 75,873 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.