Citigroup Raises General Motors (NYSE:GM) Price Target to $61.00

General Motors (NYSE:GM - Free Report) TSE: GMM.U had its target price boosted by Citigroup from $59.00 to $61.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the auto manufacturer's stock.

A number of other research analysts have also weighed in on the company. CLSA raised General Motors to a "moderate buy" rating in a report on Monday, July 7th. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a report on Monday, May 5th. Wedbush reiterated an "outperform" rating and issued a $55.00 price objective on shares of General Motors in a report on Wednesday. Royal Bank Of Canada upped their price target on shares of General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Benchmark assumed coverage on shares of General Motors in a research note on Monday. They issued a "buy" rating and a $65.00 price target on the stock. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, General Motors has a consensus rating of "Hold" and an average target price of $56.35.

General Motors Stock Up 0.2%

Shares of NYSE:GM traded up $0.10 during midday trading on Wednesday, hitting $52.44. The stock had a trading volume of 1,813,159 shares, compared to its average volume of 12,356,773. The company has a market cap of $49.92 billion, a P/E ratio of 8.32, a PEG ratio of 1.41 and a beta of 1.32. The business's 50-day simple moving average is $50.17 and its 200-day simple moving average is $48.72. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.01. The company had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. General Motors's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 EPS. On average, sell-side analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.14%. General Motors's payout ratio is 8.65%.

Institutional Trading of General Motors

Several large investors have recently made changes to their positions in GM. Norges Bank acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $592,321,000. AQR Capital Management LLC boosted its holdings in shares of General Motors by 146.8% during the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock valued at $629,196,000 after acquiring an additional 8,012,743 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of General Motors by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after acquiring an additional 6,395,375 shares in the last quarter. Nuveen LLC bought a new position in General Motors in the first quarter valued at about $175,889,000. Finally, Kingstone Capital Partners Texas LLC bought a new position in General Motors in the second quarter valued at about $125,583,000. Institutional investors and hedge funds 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.