General Motors’ (GM) “Overweight” Rating Reiterated at Morgan Stanley
General Motors Company (NYSE:GM) (TSE:GMM.U)‘s stock had its “overweight” rating reiterated by analysts at Morgan Stanley in a research report issued on Wednesday. They currently have a $43.00 price objective on the auto manufacturer’s stock. Morgan Stanley’s target price would suggest a potential downside of 1.04% from the company’s current price.
Several other equities analysts also recently commented on GM. Instinet reaffirmed a “buy” rating and issued a $43.00 price objective on shares of General Motors in a research report on Tuesday. Bank of America Corporation upgraded General Motors from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $40.00 to $57.00 in a research report on Tuesday. Deutsche Bank AG reiterated a “buy” rating and set a $51.00 target price on shares of General Motors in a research report on Monday. Citigroup Inc. reissued a “buy” rating and set a $53.00 target price on shares of General Motors in a research note on Monday. Finally, Standpoint Research lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and three have issued a strong buy rating to the company’s stock. General Motors currently has an average rating of “Buy” and a consensus price target of $40.41.
Shares of General Motors (GM) traded up 0.90% during trading on Wednesday, hitting $43.84. The company had a trading volume of 6,893,004 shares. The company has a market capitalization of $63.88 billion, a P/E ratio of 7.62 and a beta of 1.45. The stock’s 50-day moving average price is $37.74 and its 200 day moving average price is $35.33. General Motors has a 52 week low of $30.21 and a 52 week high of $43.87.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts forecast that General Motors will post $6.13 earnings per share for the current year.
In other news, insider Karl-Thomas Neumann sold 234,274 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $34.77, for a total value of $8,145,706.98. Following the sale, the insider now owns 234,274 shares in the company, valued at $8,145,706.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Daniel Ammann sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $38.00, for a total value of $1,900,000.00. Following the completion of the sale, the president now owns 185,953 shares in the company, valued at approximately $7,066,214. The disclosure for this sale can be found here. Insiders sold 639,947 shares of company stock worth $23,485,128 in the last quarter. Company insiders own 0.04% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. YorkBridge Wealth Partners LLC lifted its holdings in General Motors by 43.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after acquiring an additional 860 shares during the period. Franklin Parlapiano Turner & Welch LLC purchased a new stake in General Motors in the 1st quarter worth approximately $106,000. FNY Managed Accounts LLC purchased a new stake in General Motors in the 1st quarter worth approximately $107,000. State of Alaska Department of Revenue boosted its position in General Motors by 10.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after purchasing an additional 310 shares in the last quarter. Finally, Ffcm LLC boosted its position in General Motors by 2,008.1% in the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after purchasing an additional 3,213 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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