General Motors (NYSE:GM) Price Target Increased to $62.00 by Analysts at UBS Group

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective boosted by UBS Group from $58.00 to $62.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the auto manufacturer’s stock. UBS Group’s price target suggests a potential upside of 17.65% from the stock’s current price.

GM has been the topic of several other reports. The Goldman Sachs Group increased their target price on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research report on Monday, August 5th. Barclays upped their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $54.00 price target on shares of General Motors in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.97.

General Motors Stock Down 0.4 %

GM stock opened at $52.70 on Wednesday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29. The stock has a market capitalization of $60.13 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 0.56 and a beta of 1.42. The business’s fifty day moving average price is $47.52 and its two-hundred day moving average price is $46.09. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last released 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 company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.28 earnings per share. On average, equities analysts anticipate that General Motors will post 9.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 2,302 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 531,228 shares of company stock valued at $28,267,714. 0.72% of the stock is currently owned by company insiders.

Institutional Trading of General Motors

Several large investors have recently made changes to their positions in GM. Capital World Investors raised its holdings in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the last quarter. Bank of New York Mellon Corp lifted its position in General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after acquiring an additional 135,717 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of General Motors by 9.2% in the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares in the last quarter. LSV Asset Management lifted its stake in General Motors by 2.6% during the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after acquiring an additional 223,260 shares in the last quarter. Finally, ACR Alpine Capital Research LLC boosted its holdings in General Motors by 8.4% during the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after acquiring an additional 492,693 shares during the last quarter. 92.67% of the stock is currently 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.