UBS Group Boosts General Motors (NYSE:GM) Price Target to $58.00

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

GM has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft raised their price target on General Motors from $44.00 to $50.00 and gave the stock a hold rating in a research note on Tuesday. Piper Sandler raised their price target on General Motors from $44.00 to $45.00 and gave the stock a neutral rating in a research note on Wednesday. Barclays raised their price target on General Motors from $50.00 to $55.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. TheStreet raised General Motors from a c+ rating to a b- rating in a research report on Tuesday, March 19th. Finally, Mizuho increased their price objective on General Motors from $48.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $54.35.

General Motors Trading Down 0.1 %

GM opened at $45.07 on Wednesday. General Motors has a one year low of $26.30 and a one year high of $46.04. The company has a market cap of $52.03 billion, a P/E ratio of 5.51, a PEG ratio of 0.53 and a beta of 1.51. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. The business’s 50-day simple moving average is $42.00 and its 200-day simple moving average is $36.12.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion for 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 firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 EPS. As a group, equities research analysts expect that General Motors will post 9.26 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a $0.12 dividend. 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 related news, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the transaction, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the transaction, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock valued at $3,614,078 in the last three months. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Motors

Several hedge funds have recently bought and sold shares of the company. Unison Advisors LLC increased its position in General Motors by 0.4% during the first quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock worth $3,047,000 after buying an additional 246 shares in the last quarter. Janiczek Wealth Management LLC increased its position in General Motors by 5.2% during the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock worth $230,000 after buying an additional 248 shares in the last quarter. FinTrust Capital Advisors LLC increased its position in General Motors by 2.5% during the fourth quarter. FinTrust Capital Advisors LLC now owns 11,113 shares of the auto manufacturer’s stock worth $399,000 after buying an additional 268 shares in the last quarter. Summit Financial LLC increased its position in General Motors by 4.3% during the fourth quarter. Summit Financial LLC now owns 6,662 shares of the auto manufacturer’s stock worth $239,000 after buying an additional 273 shares in the last quarter. Finally, Sutton Place Investors LLC increased its position in General Motors by 1.7% during the first quarter. Sutton Place Investors LLC now owns 17,236 shares of the auto manufacturer’s stock worth $782,000 after buying an additional 280 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other 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.