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

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

Other research analysts also recently issued reports about the company. The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. DZ Bank cut shares of 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 price target on shares of General Motors in a research note on Wednesday, October 9th. Sanford C. Bernstein downgraded shares of General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price objective on the stock. in a research report on Monday, September 23rd. Finally, StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Motors has an average rating of “Hold” and an average target price of $56.92.

General Motors Stock Down 1.2 %

NYSE:GM opened at $52.07 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.21. The firm has a market cap of $58.52 billion, a P/E ratio of 5.55, a P/E/G ratio of 0.60 and a beta of 1.42. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29. The firm has a 50-day simple moving average of $47.81 and a two-hundred day simple moving average of $46.20.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter last year, the firm earned $2.28 earnings per share. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. Analysts predict that General Motors will post 10.05 earnings per share for the current fiscal 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 issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 2,302 shares of General Motors 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 owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $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.

Institutional Trading of General Motors

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors in the second quarter worth about $25,000. Wellington Shields Capital Management LLC purchased a new position in General Motors during the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC increased its stake in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the last quarter. Montag A & Associates Inc. bought a new position in shares of General Motors during the 1st quarter valued at approximately $30,000. Finally, EdgeRock Capital LLC bought a new position in shares of General Motors during the 2nd quarter valued at approximately $33,000. 92.67% of the stock is currently owned by 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.