Barclays Boosts General Motors (NYSE:GM) Price Target to $60.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target lifted by Barclays from $55.00 to $60.00 in a research note released on Friday, Benzinga reports. Barclays currently has an overweight rating on the auto manufacturer’s stock.

Other analysts have also recently issued reports about the stock. 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 report on Tuesday, April 23rd. The Goldman Sachs Group lifted their target price on General Motors from $45.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, January 31st. StockNews.com raised General Motors from a hold rating to a buy rating in a report on Thursday, April 25th. TheStreet raised General Motors from a c+ rating to a b- rating in a research note on Tuesday, March 19th. Finally, Citigroup upped their price objective on shares of General Motors from $95.00 to $96.00 and gave the company a buy rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $54.65.

General Motors Trading Up 0.4 %

Shares of General Motors stock opened at $46.04 on Friday. The business has a fifty day simple moving average of $42.42 and a 200-day simple moving average of $36.47. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.17. The firm has a market cap of $52.53 billion, a price-to-earnings ratio of 5.63, a price-to-earnings-growth ratio of 0.54 and a beta of 1.51. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same period in the prior year, the company earned $2.21 EPS. General Motors’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts forecast that General Motors will post 9.45 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Activity

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares in the company, valued at $540,315. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Julian G. Blissett sold 13,826 shares of the 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 completion of the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher Hatto sold 3,500 shares of the business’s 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 in the company, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock worth $3,614,078 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of General Motors

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of General Motors during the fourth quarter valued at about $602,280,000. Acadian Asset Management LLC raised its holdings in General Motors by 454.3% in the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock valued at $171,961,000 after acquiring an additional 4,275,293 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares during the period. Putnam Investments LLC grew its holdings in shares of General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of General Motors by 32.6% during the third quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock valued at $274,531,000 after purchasing an additional 2,049,412 shares during the period. 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.