General Motors (NYSE:GM) Price Target Increased to $62.00 by Analysts at UBS Group

General Motors (NYSE:GM) (TSE:GMM.U) had its price target lifted by UBS Group from $58.00 to $62.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the auto manufacturer’s stock.

Several other research analysts have also recently weighed in on the stock. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research note on Friday, October 11th. Wedbush reiterated an “outperform” rating and set a $55.00 price target on shares of General Motors in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $56.92.

General Motors Stock Down 1.2 %

Shares of NYSE GM opened at $52.07 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The company has a market cap of $59.41 billion, a P/E ratio of 6.37, a P/E/G ratio of 0.56 and a beta of 1.42. General Motors has a 52 week low of $26.30 and a 52 week high of $54.29. The business has a 50-day simple moving average of $47.68 and a two-hundred day simple moving average of $46.13.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business earned $2.28 earnings per share. Research analysts anticipate that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. 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 is available through this link. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 531,228 shares of company stock valued at $28,267,714 over the last three months. 0.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On General Motors

A number of large investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the 2nd quarter valued at approximately $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors during the second quarter valued at approximately $28,000. Fortitude Family Office LLC grew its stake in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Montag A & Associates Inc. bought a new position in General Motors in the first quarter worth $30,000. Finally, EdgeRock Capital LLC purchased a new position in General Motors during the second quarter valued at $33,000. 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.