Royal Bank of Canada Boosts General Motors (NYSE:GM) Price Target to $65.00

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

Several other research analysts have also weighed in on GM. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $47.00 to $42.00 in a research report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. Wedbush lifted their price target on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $56.97.

General Motors Stock Down 1.5 %

Shares of NYSE:GM opened at $52.91 on Wednesday. General Motors has a 52-week low of $26.30 and a 52-week high of $54.19. The stock has a market cap of $60.37 billion, a P/E ratio of 6.47, a PEG ratio of 0.56 and a beta of 1.42. The business has a fifty day moving average of $47.52 and a two-hundred day moving average of $46.09. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $2.28 earnings per share. On average, research analysts expect that General Motors will post 9.95 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul A. Jacobson purchased 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was bought at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On General Motors

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Assets Advisory LLC purchased a new position in shares of General Motors during the first quarter worth about $2,644,000. Brookstone Capital Management boosted its position in shares of General Motors by 5.1% in the 1st quarter. Brookstone Capital Management now owns 158,321 shares of the auto manufacturer’s stock valued at $7,180,000 after purchasing an additional 7,639 shares during the period. Sovereign Financial Group Inc. purchased a new position in General Motors during the 1st quarter worth approximately $230,000. Signet Financial Management LLC increased its position in General Motors by 24.2% during the first quarter. Signet Financial Management LLC now owns 27,769 shares of the auto manufacturer’s stock worth $1,259,000 after buying an additional 5,414 shares during the period. Finally, Janiczek Wealth Management LLC boosted its holdings in shares of General Motors by 5.2% in the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock valued at $230,000 after acquiring an additional 248 shares during the period. 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.