General Motors (NYSE:GM) Price Target Increased to $61.00 by Analysts at UBS Group

General Motors (NYSE:GMFree Report) (TSE:GMM.U) had its price target boosted by UBS Group from $58.00 to $61.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the auto manufacturer’s stock.

A number of other equities analysts have also recently issued reports on GM. Citigroup increased their target price on General Motors from $95.00 to $96.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Wedbush raised their price objective on shares of General Motors from $45.00 to $55.00 and gave the company an outperform rating in a research note on Wednesday, April 24th. TheStreet raised shares of General Motors from a c+ rating to a b- rating in a research report on Tuesday, March 19th. Mizuho upped their target price on shares of General Motors from $48.00 to $52.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on General Motors from $44.00 to $50.00 and gave the company a hold rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $54.81.

Get Our Latest Stock Report on General Motors

General Motors Trading Down 0.1 %

GM opened at $47.72 on Thursday. The company has a fifty day moving average price of $45.20 and a two-hundred day moving average price of $40.95. General Motors has a 1-year low of $26.30 and a 1-year high of $49.35. The company has a market cap of $54.45 billion, a P/E ratio of 5.83, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same period in the previous year, the company posted $2.21 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts predict that General Motors will post 9.44 EPS for the current fiscal year.

General Motors declared that its board has authorized a stock buyback plan on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Friday, June 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total value of $15,770,320.65. Following the transaction, the chief executive officer now owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,183,243 shares of company stock worth $53,203,153. Insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

Several hedge funds and other institutional investors have recently modified their holdings of the business. Unison Advisors LLC lifted its holdings in General Motors by 0.4% during the 1st quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock worth $3,047,000 after purchasing an additional 246 shares in the last quarter. Janiczek Wealth Management LLC boosted its position in shares of General Motors by 5.2% in the first quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock valued at $230,000 after acquiring an additional 248 shares during the period. SkyOak Wealth LLC grew its stake in General Motors by 3.0% during the first quarter. SkyOak Wealth LLC now owns 8,727 shares of the auto manufacturer’s stock valued at $396,000 after acquiring an additional 252 shares in the last quarter. Bell Investment Advisors Inc lifted its stake in General Motors by 39.7% in the 1st quarter. Bell Investment Advisors Inc now owns 897 shares of the auto manufacturer’s stock worth $41,000 after purchasing an additional 255 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC boosted its holdings in General Motors by 2.2% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 12,013 shares of the auto manufacturer’s stock valued at $545,000 after purchasing an additional 258 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Company Profile

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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.

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Analyst Recommendations for General Motors (NYSE:GM)

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