General Motors (NYSE:GM) PT Raised to $61.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target increased by research analysts at UBS Group from $58.00 to $61.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the auto manufacturer’s stock. UBS Group’s price target indicates a potential upside of 27.86% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Mizuho raised their price objective on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Piper Sandler raised their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Sanford C. Bernstein assumed coverage on General Motors in a report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price target for the company. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Finally, Royal Bank of Canada raised their price target on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.81.

General Motors Stock Performance

NYSE:GM opened at $47.71 on Thursday. The stock’s fifty day moving average is $45.20 and its 200 day moving average is $40.89. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $49.35. The firm has a market capitalization of $54.44 billion, a PE ratio of 5.83, a PEG ratio of 0.55 and a beta of 1.46. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same quarter last year, the firm posted $2.21 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that General Motors will post 9.44 earnings per share for the current year.

General Motors declared that its board has initiated a stock buyback program on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the sale, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,183,243 shares of company stock valued at $53,203,153. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of General Motors during the 4th quarter worth approximately $602,280,000. Capital World Investors raised its stake in shares of General Motors by 14.6% during the 1st quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares in the last quarter. Swedbank AB purchased a new position in shares of General Motors during the 1st quarter worth approximately $159,750,000. Hotchkis & Wiley Capital Management LLC raised its stake in shares of General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after buying an additional 3,247,050 shares in the last quarter. Finally, Putnam Investments LLC raised its stake in shares of General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 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.