Piper Sandler Boosts General Motors (NYSE:GM) Price Target to $45.00

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

GM has been the topic of a number of other research reports. Morgan Stanley lifted their price objective on General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a research note on Wednesday, April 10th. Redburn Atlantic began coverage on General Motors in a research note on Wednesday, January 24th. They issued a neutral rating and a $40.00 price objective on the stock. Wedbush lifted their price objective on General Motors from $45.00 to $55.00 and gave the stock an outperform rating in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on General Motors from $45.00 to $50.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, TheStreet raised General Motors from a c+ rating to a b- rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $54.35.

General Motors Stock Down 0.1 %

Shares of GM opened at $45.07 on Wednesday. The business’s 50 day moving average is $42.00 and its 200 day moving average is $36.12. The company has a market capitalization of $52.03 billion, a PE ratio of 5.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.21 EPS. Research analysts expect that General Motors will post 9.26 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, June 7th. General Motors’s payout ratio is currently 5.87%.

Insider Activity at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of General Motors 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 completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction 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 sale, the executive vice president now directly 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 a total of 86,248 shares of company stock worth $3,614,078 in the last quarter. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Family Legacy Inc. raised its position in shares of General Motors by 4.9% in the 1st quarter. Family Legacy Inc. now owns 13,060 shares of the auto manufacturer’s stock worth $592,000 after acquiring an additional 605 shares in the last quarter. V Square Quantitative Management LLC grew its stake in General Motors by 91.5% during the 1st quarter. V Square Quantitative Management LLC now owns 11,373 shares of the auto manufacturer’s stock valued at $516,000 after purchasing an additional 5,435 shares during the last quarter. Premier Path Wealth Partners LLC grew its stake in General Motors by 5.1% during the 1st quarter. Premier Path Wealth Partners LLC now owns 6,536 shares of the auto manufacturer’s stock valued at $296,000 after purchasing an additional 317 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in shares of General Motors in the first quarter worth about $1,103,000. Finally, Spire Wealth Management boosted its stake in shares of General Motors by 21.6% in the first quarter. Spire Wealth Management now owns 7,833 shares of the auto manufacturer’s stock worth $355,000 after buying an additional 1,394 shares during the last quarter. 92.67% of the stock is 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.