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

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

A number of other brokerages have also recently issued reports on GM. Barclays lifted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Wolfe Research started coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Morgan Stanley cut General Motors from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $47.00 to $42.00 in a research report on Wednesday, September 25th. Finally, StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors presently has an average rating of “Hold” and an average target price of $56.97.

General Motors Stock Down 1.5 %

Shares of GM opened at $52.91 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a 12 month low of $26.30 and a 12 month high of $54.19. The firm’s 50 day moving average is $47.52 and its 200-day moving average is $46.09. The stock has a market capitalization of $60.37 billion, a PE ratio of 6.47, a P/E/G ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 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 analyst estimates 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 was up 10.5% on a year-over-year basis. During the same quarter last year, the company earned $2.28 EPS. Equities research analysts forecast that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Paul A. Jacobson purchased 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was purchased at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rory Harvey sold 12,795 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new stake in General Motors during the 1st quarter valued at $2,644,000. Brookstone Capital Management grew its holdings in shares of General Motors by 5.1% during the first quarter. Brookstone Capital Management now owns 158,321 shares of the auto manufacturer’s stock valued at $7,180,000 after buying an additional 7,639 shares during the last quarter. Sovereign Financial Group Inc. acquired a new position in shares of General Motors during the first quarter valued at about $230,000. Signet Financial Management LLC increased its position in shares of General Motors by 24.2% during the first quarter. Signet Financial Management LLC now owns 27,769 shares of the auto manufacturer’s stock worth $1,259,000 after acquiring an additional 5,414 shares in the last quarter. Finally, Janiczek Wealth Management LLC lifted its position in General Motors by 5.2% in the 1st quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock valued at $230,000 after acquiring an additional 248 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.