General Motors (NYSE:GM) Given New $45.00 Price Target at Piper Sandler

General Motors (NYSE:GM) (TSE:GMM.U) had its price target boosted by Piper Sandler from $44.00 to $45.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the auto manufacturer’s stock.

A number of other analysts have also commented on GM. Morgan Stanley raised their price target on General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Barclays raised their price target on General Motors from $50.00 to $55.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Mizuho raised their price objective on General Motors from $48.00 to $52.00 and gave the company a buy rating in a research report on Wednesday. TheStreet upgraded shares of General Motors from a c+ rating to a b- rating in a report on Tuesday, March 19th. Finally, Wedbush boosted their target price on shares of General Motors from $45.00 to $55.00 and gave the company an outperform rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $54.65.

General Motors Stock Up 0.4 %

Shares of NYSE GM opened at $45.82 on Wednesday. General Motors has a one year low of $26.30 and a one year high of $46.17. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $42.27 and its two-hundred day simple moving average is $36.29. The stock has a market capitalization of $52.28 billion, a P/E ratio of 5.60, a PEG ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 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 company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. As a group, analysts expect that General Motors will post 9.45 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s payout ratio is currently 5.87%.

Insider Activity

In other news, EVP Rory Harvey sold 5,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the sale, the executive vice president now owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Rory Harvey sold 5,100 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the sale, the executive vice president now owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 in the last quarter. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pinnacle Associates Ltd. grew its stake in shares of General Motors by 1.7% during the 1st 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 during the period. LifeSteps Financial Inc. bought a new position in General Motors in the 1st quarter worth approximately $25,000. YHB Investment Advisors Inc. bought a new position in General Motors in the 1st quarter worth approximately $32,000. ZWJ Investment Counsel Inc. boosted its stake in General Motors by 5.5% in the 1st quarter. ZWJ Investment Counsel Inc. now owns 374,439 shares of the auto manufacturer’s stock worth $16,981,000 after purchasing an additional 19,375 shares during the period. Finally, Clear Creek Financial Management LLC raised its holdings in shares of General Motors by 14.5% during the 1st quarter. Clear Creek Financial Management LLC now owns 9,475 shares of the auto manufacturer’s stock worth $424,000 after acquiring an additional 1,198 shares in the last quarter. 92.67% of the stock is currently owned by 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.