General Motors (NYSE:GM) Price Target Raised to $64.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective boosted by UBS Group from $61.00 to $64.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the auto manufacturer’s stock.

A number of other analysts have also issued reports on GM. Wedbush lifted their price target on shares of General Motors from $45.00 to $55.00 and gave the stock an outperform rating in a research note on Wednesday, April 24th. Wells Fargo & Company lifted their price target on shares of General Motors from $30.00 to $32.00 and gave the stock an underweight rating in a research note on Tuesday, June 25th. Citigroup lifted their price target on shares of General Motors from $95.00 to $96.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Mizuho lifted their price target on shares of General Motors from $48.00 to $52.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Finally, StockNews.com upgraded shares of General Motors from a hold rating to a buy rating in a research note on Saturday, June 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $55.96.

General Motors Trading Up 2.3 %

NYSE GM opened at $49.04 on Wednesday. The company’s fifty day simple moving average is $46.01 and its 200-day simple moving average is $42.15. General Motors has a 52 week low of $26.30 and a 52 week high of $49.35. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The stock has a market cap of $55.95 billion, a P/E ratio of 6.00, a PEG ratio of 0.51 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the previous year, the company posted $2.21 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts predict that General Motors will post 9.43 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors declared that its Board of Directors has initiated a share buyback plan on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the transaction, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the completion of 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. Insiders sold 1,152,621 shares of company stock worth $51,818,111 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several large investors have recently made changes to their positions in the business. Fortitude Family Office LLC boosted its position in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Beech Hill Advisors Inc. boosted its holdings in shares of General Motors by 1.6% in the second quarter. Beech Hill Advisors Inc. now owns 15,233 shares of the auto manufacturer’s stock worth $708,000 after buying an additional 233 shares during the period. Unison Advisors LLC boosted its holdings in shares of General Motors by 0.4% in the first quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock worth $3,047,000 after buying an additional 246 shares during the period. Janiczek Wealth Management LLC boosted its holdings 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 worth $230,000 after buying an additional 248 shares during the period. Finally, SkyOak Wealth LLC boosted its holdings in shares of General Motors by 3.0% in the first quarter. SkyOak Wealth LLC now owns 8,727 shares of the auto manufacturer’s stock worth $396,000 after buying an additional 252 shares during the period. Institutional investors own 92.67% of the company’s stock.

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.