General Motors (NYSE:GM) Stock Price Expected to Rise, UBS Group Analyst Says

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective hoisted by research analysts at UBS Group from $62.00 to $64.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the auto manufacturer’s stock. UBS Group’s price objective points to a potential upside of 23.79% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein boosted their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. Wells Fargo & Company reduced their price objective on General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a report on Monday, December 16th. Finally, Wedbush upped their price target on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, General Motors has an average rating of “Hold” and an average target price of $59.68.

General Motors Trading Down 0.0 %

Shares of General Motors stock traded down $0.00 during trading on Thursday, reaching $51.70. 3,763,721 shares of the company were exchanged, compared to its average volume of 7,929,005. The business has a 50-day moving average price of $53.83 and a 200-day moving average price of $49.56. The firm has a market capitalization of $56.85 billion, a price-to-earnings ratio of 5.51, a P/E/G ratio of 0.36 and a beta of 1.42. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a twelve month low of $34.32 and a twelve month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the prior year, the business posted $2.28 EPS. General Motors’s revenue was up 10.5% on a year-over-year basis. Sell-side analysts anticipate that General Motors will post 10.34 EPS for the current fiscal year.

Insider Transactions at General Motors

In related news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 42.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the transaction, the executive vice president now owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,030,475 shares of company stock valued at $56,509,286 over the last ninety days. 0.72% of the stock is owned by company insiders.

Institutional Trading of General Motors

A number of large investors have recently added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of General Motors by 972.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock worth $94,300,000 after acquiring an additional 1,906,964 shares during the period. Jennison Associates LLC increased its stake in shares of General Motors by 123.1% in the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after purchasing an additional 1,779,897 shares in the last quarter. Artemis Investment Management LLP raised its position in shares of General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after purchasing an additional 1,366,768 shares during the period. National Bank of Canada FI lifted its stake in shares of General Motors by 158.8% during the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after buying an additional 1,332,450 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock valued at $774,766,000 after buying an additional 989,750 shares in the last quarter. Hedge funds and other 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.