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

General Motors (NYSE:GM) (TSE:GMM.U) had its price target upped by research analysts at UBS Group from $56.00 to $58.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the auto manufacturer’s stock. UBS Group’s price objective would indicate a potential upside of 27.14% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wedbush raised their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Morgan Stanley raised their price objective on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Barclays raised their price objective on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.38.

General Motors Price Performance

Shares of NYSE GM opened at $45.62 on Wednesday. The firm has a 50-day simple moving average of $42.13 and a 200-day simple moving average of $36.19. The stock has a market capitalization of $52.67 billion, a price-to-earnings ratio of 5.58, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. 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 has a 52 week low of $26.30 and a 52 week high of $46.04.

General Motors (NYSE:GM) (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 net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the prior year, the business earned $2.21 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts predict that General Motors will post 9.26 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GM. Norges Bank purchased a new position in General Motors in the fourth quarter worth approximately $602,280,000. Acadian Asset Management LLC raised its holdings in General Motors by 454.3% during the third quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after purchasing an additional 4,275,293 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after purchasing an additional 3,247,050 shares in the last quarter. Putnam Investments LLC raised its holdings in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in General Motors by 32.6% during the third quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after purchasing an additional 2,049,412 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.