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

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

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. The Goldman Sachs Group boosted their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, UBS Group upped their price objective on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, General Motors presently has an average rating of “Hold” and an average price target of $56.97.

General Motors Price Performance

GM opened at $52.91 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The company’s 50-day simple moving average is $47.52 and its two-hundred day simple moving average is $46.09. General Motors has a 52-week low of $26.30 and a 52-week high of $54.19. The stock has a market capitalization of $60.37 billion, a P/E ratio of 6.47, a P/E/G ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.28 earnings per share. As a group, analysts predict that General Motors will post 9.95 EPS 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 issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Buying and Selling at General Motors

In other news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Paul A. Jacobson purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of 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 in the first quarter valued at approximately $2,644,000. Brookstone Capital Management raised its stake in 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 last quarter. Sovereign Financial Group Inc. purchased a new position in General Motors in the 1st quarter valued at $230,000. Signet Financial Management LLC boosted its stake in General Motors by 24.2% during the 1st quarter. Signet Financial Management LLC now owns 27,769 shares of the auto manufacturer’s stock worth $1,259,000 after purchasing an additional 5,414 shares during the last quarter. Finally, Janiczek Wealth Management LLC grew its holdings in shares of General Motors by 5.2% during the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock worth $230,000 after buying an additional 248 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other 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.