General Motors (NYSE:GM) Price Target Raised to $32.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective increased by Wells Fargo & Company from $30.00 to $32.00 in a research note published on Tuesday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the auto manufacturer’s stock.

A number of other research firms also recently weighed in on GM. StockNews.com upgraded shares of General Motors from a hold rating to a buy rating in a research note on Saturday, June 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of General Motors from $44.00 to $50.00 and gave the stock a hold rating in a research note on Tuesday, April 23rd. UBS Group lifted their price target on shares of General Motors from $58.00 to $61.00 and gave the stock a buy rating in a research note on Thursday, June 20th. Citigroup lifted their price objective on General Motors from $95.00 to $96.00 and gave the company a buy rating in a report on Wednesday, April 24th. Finally, Bank of America reissued a buy rating and set a $75.00 price objective on shares of General Motors in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $54.91.

General Motors Trading Up 1.9 %

Shares of General Motors stock opened at $46.45 on Tuesday. The company’s fifty day simple moving average is $45.60 and its 200-day simple moving average is $41.35. The company has a market cap of $52.99 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 0.48 and a beta of 1.46. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. General Motors has a 1 year low of $26.30 and a 1 year high of $49.35.

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 for the quarter, topping 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 firm had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the previous year, the company earned $2.21 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts expect that General Motors will post 9.43 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.03%. General Motors’s dividend payout ratio is currently 5.87%.

General Motors announced that its Board of Directors has authorized a stock buyback program on Tuesday, June 11th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the sale, the president now directly owns 162,049 shares of the company’s stock, valued at approximately $7,455,874.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now directly owns 162,049 shares in the company, valued at approximately $7,455,874.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The disclosure for this sale can be found here. In the last three months, insiders sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Motors

Institutional investors and hedge funds have recently modified their holdings of the business. LifeSteps Financial Inc. acquired a new position in shares of General Motors in the 1st quarter valued at approximately $25,000. Montag A & Associates Inc. acquired a new position in shares of General Motors in the 1st quarter valued at approximately $30,000. YHB Investment Advisors Inc. acquired a new position in General Motors during the 1st quarter worth approximately $32,000. LRI Investments LLC acquired a new position in General Motors during the 1st quarter worth approximately $34,000. Finally, Highlander Capital Management LLC acquired a new position in General Motors during the 4th quarter worth approximately $27,000. 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.