General Motors (GM) Rating Reiterated by Barclays
General Motors (NYSE:GM) (TSE:GMM.U)‘s stock had its “buy” rating reaffirmed by equities research analysts at Barclays in a research note issued to investors on Tuesday. They presently have a $61.00 price objective on the auto manufacturer’s stock. Barclays’ price target points to a potential upside of 38.83% from the stock’s current price.
Several other equities research analysts also recently issued reports on the stock. Deutsche Bank restated a “buy” rating on shares of General Motors in a research report on Friday, November 17th. Piper Jaffray Companies restated a “buy” rating and set a $44.00 price objective on shares of General Motors in a research report on Tuesday, September 12th. Bank of America reiterated a “buy” rating and issued a $57.00 price target on shares of General Motors in a research report on Tuesday, November 28th. Goldman Sachs Group downgraded shares of General Motors from a “neutral” rating to a “sell” rating and dropped their price target for the company from $43.16 to $32.00 in a research report on Monday, October 30th. Finally, Royal Bank of Canada lifted their price target on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 25th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $43.80.
Shares of General Motors (GM) traded down $0.28 during mid-day trading on Tuesday, reaching $43.94. 1,958,722 shares of the company’s stock traded hands, compared to its average volume of 12,313,479. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. The firm has a market capitalization of $62,310.00, a P/E ratio of 9.51, a PEG ratio of 0.82 and a beta of 1.55. General Motors has a 1 year low of $31.92 and a 1 year high of $46.76.
In other General Motors news, EVP Stefan Jacoby sold 37,961 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $42.87, for a total transaction of $1,627,388.07. Following the sale, the executive vice president now owns 98,340 shares of the company’s stock, valued at $4,215,835.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Thomas S. Timko sold 44,791 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $44.46, for a total transaction of $1,991,407.86. Following the sale, the chief accounting officer now directly owns 66,838 shares in the company, valued at approximately $2,971,617.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 552,298 shares of company stock valued at $24,408,137. Company insiders own 0.04% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GM. Berkshire Hathaway Inc. grew its stake in shares of General Motors by 20.0% during the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after buying an additional 10,000,000 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of General Motors by 290.9% during the second quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock worth $357,944,000 after buying an additional 7,625,809 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of General Motors during the third quarter worth $202,352,000. Vanguard Group Inc. grew its stake in shares of General Motors by 4.0% during the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock worth $3,262,952,000 after buying an additional 3,560,717 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of General Motors by 72.9% during the second quarter. Parametric Portfolio Associates LLC now owns 4,210,479 shares of the auto manufacturer’s stock worth $147,072,000 after buying an additional 1,775,924 shares during the last quarter. 73.01% of the stock is currently owned by hedge funds and other institutional investors.
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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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