General Motors (NYSE:GM) (TSE:GMM.U) was upgraded by equities research analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $52.00 target price on the auto manufacturer’s stock, up from their previous target price of $51.00. Royal Bank of Canada’s price objective would suggest a potential upside of 22.38% from the company’s current price.
Other research analysts have also recently issued reports about the stock. Jefferies Group boosted their price target on shares of General Motors from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, October 30th. Standpoint Research cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Thursday, September 14th. Citigroup restated a “buy” rating and set a $53.00 price target on shares of General Motors in a report on Monday, October 2nd. Goldman Sachs Group cut shares of General Motors from a “neutral” rating to a “sell” rating and cut their price target for the stock from $43.16 to $32.00 in a report on Monday, October 30th. Finally, Guggenheim upgraded shares of General Motors from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Monday, November 20th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $43.74.
General Motors (NYSE:GM) traded up $0.34 during trading on Tuesday, reaching $42.49. 13,179,940 shares of the company traded hands, compared to its average volume of 13,517,042. General Motors has a 1-year low of $31.92 and a 1-year high of $46.76. The stock has a market capitalization of $60,350.00, a PE ratio of 6.62, a PEG ratio of 0.71 and a beta of 1.54. The company has a current ratio of 0.94, a quick ratio of 0.79 and a debt-to-equity ratio of 1.54.
In related news, insider Alicia S. Boler-Davis sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Daniel Ammann sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $40.19, for a total transaction of $1,607,600.00. Following the sale, the president now owns 145,953 shares in the company, valued at $5,865,851.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 775,252 shares of company stock worth $33,616,642. Corporate insiders own 0.04% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of General Motors by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after buying an additional 3,560,717 shares in the last quarter. BlackRock Inc. increased its holdings in General Motors by 1.1% during the 2nd quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock worth $2,750,849,000 after acquiring an additional 850,211 shares during the period. Berkshire Hathaway Inc. increased its holdings in General Motors by 20.0% during the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after acquiring an additional 10,000,000 shares during the period. Capital World Investors increased its holdings in General Motors by 5.0% during the 2nd quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock worth $1,094,259,000 after acquiring an additional 1,500,500 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in General Motors by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 14,900,059 shares of the auto manufacturer’s stock worth $601,683,000 after acquiring an additional 331,621 shares during the period. Institutional investors own 72.97% of the company’s stock.
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About General Motors
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.
