General Motors (NYSE:GM) Price Target Raised to $48.00 at Piper Sandler

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective hoisted by Piper Sandler from $45.00 to $48.00 in a research report released on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the auto manufacturer’s stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Cowen assumed coverage on shares of General Motors in a research note on Thursday, March 6th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group set a $73.00 price objective on shares of General Motors in a research note on Saturday, March 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.06.

General Motors Price Performance

Shares of General Motors stock opened at $49.46 on Thursday. The business has a 50 day moving average of $49.02 and a 200 day moving average of $50.46. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a market cap of $49.21 billion, a PE ratio of 8.04, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, equities research analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its board has initiated a share buyback program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. General Motors’s dividend payout ratio is presently 7.80%.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

Several hedge funds have recently bought and sold shares of the stock. Trust Point Inc. lifted its stake in shares of General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock valued at $386,000 after buying an additional 193 shares in the last quarter. Avestar Capital LLC lifted its position in shares of General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after acquiring an additional 213 shares in the last quarter. Continuum Advisory LLC grew its position in shares of General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after purchasing an additional 213 shares in the last quarter. Holistic Planning LLC raised its stake in General Motors by 3.9% during the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after purchasing an additional 214 shares during the period. Finally, Nemes Rush Group LLC lifted its holdings in General Motors by 18.7% in the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer’s stock worth $73,000 after purchasing an additional 217 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Company Profile

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.