General Motors (NYSE:GM) Given New $48.00 Price Target at Piper Sandler

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

GM has been the subject of several other research reports. Mizuho increased their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and increased their target price for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Cowen assumed coverage on shares of General Motors in a report on Thursday, March 6th. They set a “buy” rating for the company. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.06.

General Motors Stock Up 0.7 %

General Motors stock opened at $49.77 on Thursday. The stock has a market capitalization of $49.53 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company has a 50 day moving average of $49.02 and a 200-day moving average of $50.47.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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%. On average, equities research analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

General Motors announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Institutional investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new position in General Motors in the fourth quarter worth $25,000. Crews Bank & Trust purchased a new position in shares of General Motors in the 4th quarter worth about $26,000. Truvestments Capital LLC purchased a new position in shares of General Motors in the 3rd quarter worth about $27,000. Compass Planning Associates Inc purchased a new position in shares of General Motors in the 4th quarter worth about $27,000. Finally, Duncker Streett & Co. Inc. raised its position in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

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.