General Motors (NYSE:GM) PT Raised to $58.00

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

Several other equities research analysts have also weighed in on the company. Wolfe Research raised General Motors from a peer perform rating to an outperform rating and set a $42.00 target price on the stock in a research report on Thursday, January 4th. Royal Bank of Canada lifted 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. Tigress Financial lifted their price target on General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a research report on Thursday, February 15th. Redburn Atlantic assumed coverage on General Motors in a research report on Wednesday, January 24th. They set a neutral rating and a $40.00 price target on the stock. Finally, Morgan Stanley boosted their target price on General Motors from $43.00 to $46.00 and gave the company an overweight rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $54.65.

General Motors Stock Up 0.4 %

Shares of GM opened at $45.82 on Wednesday. General Motors has a 52-week low of $26.30 and a 52-week high of $46.17. The company has a market capitalization of $52.28 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The stock has a fifty day simple moving average of $42.27 and a two-hundred day simple moving average of $36.29. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22.

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 for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.21 EPS. As a group, equities analysts forecast that General Motors will post 9.45 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid 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 (DPR) is presently 5.87%.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the sale, the executive vice president now directly owns 12,658 shares in the company, valued at $544,800.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction 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 SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 12,658 shares in the company, valued at $544,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock worth $3,614,078 over the last three months. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Motors

Institutional investors have recently made changes to their positions in the stock. LifeSteps Financial Inc. acquired a new position in shares of General Motors in the first quarter worth $25,000. YHB Investment Advisors Inc. acquired a new position in shares of General Motors in the first quarter worth $32,000. Highlander Capital Management LLC acquired a new position in shares of General Motors in the fourth quarter worth $27,000. SouthState Corp raised its holdings in shares of 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 during the last quarter. Finally, Riverview Trust Co acquired a new position in shares of General Motors in the first quarter worth $38,000. 92.67% of the stock is owned by institutional investors and hedge funds.

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.