General Motors (NYSE:GM) (TSE:GMM.U) had its target price hoisted by equities researchers at Evercore ISI from $40.00 to $41.38 in a research report issued to clients and investors on Friday.
A number of other brokerages have also recently commented on GM. Morgan Stanley cut General Motors from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $46.48 to $43.00 in a research report on Wednesday, October 25th. Royal Bank of Canada boosted their price target on General Motors from $44.00 to $51.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 25th. Craig Hallum set a $45.00 price target on General Motors and gave the stock a “hold” rating in a research report on Wednesday, October 25th. BMO Capital Markets raised General Motors to a “market perform” rating and boosted their price target for the stock from $41.00 to $48.00 in a research report on Wednesday, October 25th. Finally, Deutsche Bank upped their price objective on General Motors from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. General Motors currently has an average rating of “Hold” and a consensus target price of $43.63.
Shares of General Motors (NYSE:GM) opened at $41.38 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. General Motors has a 12-month low of $31.92 and a 12-month high of $46.76. The company has a market capitalization of $58,677.06, a P/E ratio of 21.22, a PEG ratio of 0.72 and a beta of 1.54.
In other news, EVP Stefan Jacoby sold 37,961 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the transaction, the executive vice president now directly owns 98,340 shares of the company’s stock, valued at approximately $4,215,835.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alicia S. Boler-Davis sold 10,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $40.90, for a total value of $409,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 735,252 shares of company stock worth $32,009,042 over the last three months. Insiders own 0.04% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atlantic Trust Group LLC increased its stake in shares of General Motors by 30.0% in the 3rd quarter. Atlantic Trust Group LLC now owns 76,284 shares of the auto manufacturer’s stock worth $3,080,000 after purchasing an additional 17,604 shares in the last quarter. AustralianSuper Pty Ltd purchased a new stake in shares of General Motors in the 3rd quarter worth $24,688,000. Parametric Portfolio Associates LLC increased its stake in shares of General Motors by 2.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 4,225,357 shares of the auto manufacturer’s stock worth $170,620,000 after purchasing an additional 114,679 shares in the last quarter. AXA increased its stake in shares of General Motors by 295.3% in the 3rd quarter. AXA now owns 1,944,602 shares of the auto manufacturer’s stock worth $78,523,000 after purchasing an additional 1,452,633 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of General Motors in the 3rd quarter worth $701,000. 73.01% of the stock is currently owned by hedge funds and other institutional investors.
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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.
