General Motors (NYSE:GM) PT Raised to $65.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective hoisted by Royal Bank of Canada from $58.00 to $65.00 in a research note released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the auto manufacturer’s stock.

A number of other equities analysts have also recently commented on the company. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. Wedbush lifted their target price on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group lifted their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday. Sanford C. Bernstein cut General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a report on Monday, September 23rd. Finally, Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Stock Performance

NYSE GM opened at $52.07 on Wednesday. The stock has a market capitalization of $58.52 billion, a PE ratio of 5.55, a P/E/G ratio of 0.60 and a beta of 1.42. The business has a 50 day simple moving average of $47.81 and a two-hundred day simple moving average of $46.20. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 0.99. General Motors has a 1-year low of $26.30 and a 1-year high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 EPS. On average, research analysts predict that General Motors will post 10.05 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.12%.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 531,228 shares of company stock valued at $28,267,714 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SteelPeak Wealth LLC purchased a new position in General Motors during the 3rd quarter worth $251,000. Pinnacle Associates Ltd. grew its stake in General Motors by 10.5% during the 3rd quarter. Pinnacle Associates Ltd. now owns 41,753 shares of the auto manufacturer’s stock worth $1,872,000 after buying an additional 3,980 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in General Motors by 0.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 36,727 shares of the auto manufacturer’s stock worth $1,647,000 after buying an additional 282 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in General Motors by 12.1% during the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after buying an additional 175,860 shares during the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in General Motors during the 3rd quarter worth $543,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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.