General Motors (NYSE:GM) Given New $62.00 Price Target at UBS Group

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

Other equities analysts have also issued reports about the stock. Wells Fargo & Company increased their price objective on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday. The Goldman Sachs Group increased 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 price objective on shares of General Motors in a research note on Wednesday, October 9th. DZ Bank lowered 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. Finally, Sanford C. Bernstein lowered General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price for the company. in a research report on Monday, September 23rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.97.

General Motors Stock Down 1.5 %

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

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. General Motors’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 earnings per share. As a group, research analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

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. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Transactions at General Motors

In other General Motors news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was 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 $489,942.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

A number of hedge funds have recently made changes to their positions in the business. Allworth Financial LP raised its position in shares of General Motors by 2.3% in the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock valued at $412,000 after purchasing an additional 205 shares during the period. Tandem Capital Management Corp ADV raised its holdings in General Motors by 1.7% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 47,571 shares of the auto manufacturer’s stock valued at $2,157,000 after acquiring an additional 800 shares during the period. Legacy Capital Group California Inc. lifted its position in General Motors by 54.0% during the third quarter. Legacy Capital Group California Inc. now owns 6,801 shares of the auto manufacturer’s stock worth $305,000 after acquiring an additional 2,384 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of General Motors by 86.9% during the third quarter. Assenagon Asset Management S.A. now owns 569,633 shares of the auto manufacturer’s stock worth $25,542,000 after acquiring an additional 264,880 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of General Motors by 4,826.5% during the third quarter. International Assets Investment Management LLC now owns 549,261 shares of the auto manufacturer’s stock worth $24,629,000 after purchasing an additional 538,112 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

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.