UBS Group Raises General Motors (NYSE:GM) Price Target to $62.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price raised by UBS Group from $58.00 to $62.00 in a report published on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the auto manufacturer’s stock.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 price target on shares of General Motors in a research note on Wednesday, October 9th. Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research note on Tuesday, September 10th. Wedbush reaffirmed an “outperform” rating and set a $55.00 target price on shares of General Motors in a research report on Wednesday, October 9th. Finally, Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Motors presently has an average rating of “Hold” and a consensus price target of $56.92.

General Motors Stock Down 1.2 %

Shares of General Motors stock opened at $52.07 on Wednesday. The stock’s 50-day moving average is $47.68 and its 200 day moving average is $46.13. General Motors has a one year low of $26.30 and a one year high of $54.29. The firm has a market cap of $59.41 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results 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 firm had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.28 EPS. Equities research analysts anticipate that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.92%. General Motors’s payout ratio is presently 5.87%.

Insider Activity

In related news, EVP Rory Harvey sold 9,307 shares of General Motors stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 531,228 shares of company stock valued at $28,267,714 over the last three months. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several institutional investors and hedge funds have recently bought and sold shares of GM. SJS Investment Consulting Inc. lifted its position in shares of General Motors by 34.5% during the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after buying an additional 203 shares during the last quarter. Allworth Financial LP raised its stake in General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after acquiring an additional 205 shares during the period. Fortitude Family Office LLC lifted its holdings in General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in General Motors by 3.5% during the second quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after purchasing an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. increased its stake in shares of General Motors by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after purchasing an additional 230 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

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.