General Motors (NYSE:GM) Price Target Raised to $60.00

General Motors (NYSE:GM - Free Report) TSE: GMM.U had its price target lifted by JPMorgan Chase & Co. from $56.00 to $60.00 in a research note published on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the auto manufacturer's stock.

Several other brokerages also recently weighed in on GM. CLSA raised shares of General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Piper Sandler restated a "neutral" rating and issued a $48.00 price target (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research note on Monday, May 5th. BNP Paribas raised shares of General Motors to a "strong-buy" rating in a report on Monday, May 5th. Finally, Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research note on Friday, July 11th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $56.05.

General Motors Stock Up 0.0%

GM stock traded up $0.03 during mid-day trading on Monday, hitting $53.25. The stock had a trading volume of 13,031,532 shares, compared to its average volume of 12,586,677. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $51.19 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 1.42 and a beta of 1.32. The company has a fifty day moving average of $50.02 and a 200 day moving average of $48.69. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The company had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same quarter last year, the company earned $2.62 earnings per share. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. General Motors's payout ratio is presently 8.65%.

Institutional Investors Weigh In On General Motors

A number of institutional investors have recently modified their holdings of the stock. Measured Risk Portfolios Inc. bought a new position in shares of General Motors in the 4th quarter worth $27,000. Whittier Trust Co. increased its holdings in shares of General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 425 shares during the last quarter. Transce3nd LLC acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $34,000. Costello Asset Management INC acquired a new stake in General Motors during the first quarter worth $32,000. Finally, WPG Advisers LLC purchased a new position in shares of General Motors during the first quarter worth $34,000. 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.