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

General Motors (NYSE:GM) (TSE:GMM.U) had its target price upped by UBS Group from $56.00 to $58.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the auto manufacturer’s stock.

GM has been the subject of several other research reports. The Goldman Sachs Group lifted their price objective on General Motors from $45.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Morgan Stanley lifted their price objective on General Motors from $43.00 to $46.00 and gave the stock an overweight rating in a report on Wednesday, April 10th. Royal Bank of Canada lifted their price objective on General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a report on Tuesday. Piper Sandler lifted their price objective on General Motors from $44.00 to $45.00 and gave the stock a neutral rating in a report on Wednesday. Finally, Wedbush boosted their price target on General Motors from $45.00 to $55.00 and gave the company an outperform rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors presently has an average rating of Moderate Buy and an average target price of $54.65.

General Motors Stock Up 0.4 %

GM stock opened at $45.82 on Wednesday. General Motors has a 1-year low of $26.30 and a 1-year high of $46.17. The business has a fifty day moving average price of $42.27 and a 200-day moving average price of $36.29. 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 stock has a market capitalization of $52.28 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same quarter in the previous year, the company posted $2.21 earnings per share. General Motors’s revenue was up 7.6% compared to the same quarter last year. Equities analysts forecast that General Motors will post 9.45 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Buying and Selling

In related news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares in the company, valued at $540,315. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,248 shares of company stock worth $3,614,078. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On General Motors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Pinnacle Associates Ltd. grew its stake in shares of General Motors by 1.7% during the first quarter. Pinnacle Associates Ltd. now owns 42,478 shares of the auto manufacturer’s stock valued at $1,926,000 after buying an additional 725 shares during the last quarter. LifeSteps Financial Inc. bought a new position in General Motors in the first quarter worth approximately $25,000. YHB Investment Advisors Inc. bought a new position in General Motors in the first quarter worth approximately $32,000. ZWJ Investment Counsel Inc. grew its stake in General Motors by 5.5% in the first quarter. ZWJ Investment Counsel Inc. now owns 374,439 shares of the auto manufacturer’s stock worth $16,981,000 after purchasing an additional 19,375 shares in the last quarter. Finally, Clear Creek Financial Management LLC grew its stake in General Motors by 14.5% in the first quarter. Clear Creek Financial Management LLC now owns 9,475 shares of the auto manufacturer’s stock worth $424,000 after purchasing an additional 1,198 shares in the last quarter. 92.67% of the stock is currently 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.