General Motors (NYSE:GM) Price Target Increased to $58.00 by Analysts at UBS Group

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective upped by UBS Group from $56.00 to $58.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a buy rating on the auto manufacturer’s stock.

GM has been the subject of a number of other reports. Piper Sandler increased their target price on General Motors from $44.00 to $45.00 and gave the company a neutral rating in a research report on Wednesday. Tigress Financial increased their target price on General Motors from $86.00 to $88.00 and gave the company a strong-buy rating in a research report on Thursday, February 15th. The Goldman Sachs Group increased their target price on General Motors from $45.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, January 31st. Barclays increased their target price on General Motors from $50.00 to $55.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Finally, Royal Bank of Canada raised their price target on General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $54.35.

General Motors Trading Down 0.1 %

GM stock opened at $45.07 on Wednesday. General Motors has a 1-year low of $26.30 and a 1-year high of $46.04. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90. The company has a market capitalization of $52.03 billion, a price-to-earnings ratio of 5.51, a PEG ratio of 0.53 and a beta of 1.51. The business has a 50 day simple moving average of $42.00 and a two-hundred day simple moving average of $36.12.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.21 EPS. Research analysts anticipate that General Motors will post 9.26 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.07%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Activity

In other news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,248 shares of company stock worth $3,614,078. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SouthState Corp boosted its holdings in General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares in the last quarter. Highlander Capital Management LLC acquired a new stake in General Motors in the fourth quarter worth about $27,000. Cape Investment Advisory Inc. boosted its holdings in General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in General Motors in the third quarter worth about $33,000. Finally, Sachetta LLC acquired a new stake in General Motors in the fourth quarter worth about $33,000. 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.