General Motors (NYSE:GM) (TSE:GMM.U)‘s stock had its “overweight” rating reissued by stock analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday. They currently have a $55.00 price objective on the auto manufacturer’s stock, down from their prior price objective of $56.00. JPMorgan Chase & Co.’s price objective suggests a potential upside of 44.39% from the stock’s current price.
A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets reaffirmed a “hold” rating and set a $42.00 target price on shares of General Motors in a report on Tuesday, March 6th. Vetr raised shares of General Motors from a “hold” rating to a “strong-buy” rating and set a $42.79 target price for the company in a report on Thursday, March 1st. Zacks Investment Research raised shares of General Motors from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Wednesday, February 14th. Morgan Stanley upped their target price on shares of General Motors from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 14th. Finally, Nomura set a $45.00 target price on shares of General Motors and gave the stock a “neutral” rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $44.79.
Shares of General Motors (NYSE GM) traded up $0.08 during midday trading on Tuesday, reaching $38.09. 5,340,903 shares of the company traded hands, compared to its average volume of 13,716,563. The stock has a market cap of $53,350.00, a price-to-earnings ratio of 7.39, a PEG ratio of 0.72 and a beta of 1.60. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.76 and a current ratio of 0.89. General Motors has a 12 month low of $31.92 and a 12 month high of $46.76.
In other news, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total transaction of $2,269,935.00. Following the sale, the insider now owns 57,091 shares of the company’s stock, valued at $2,569,095. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark L. Reuss sold 30,000 shares of the stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $43.09, for a total transaction of $1,292,700.00. Following the sale, the insider now directly owns 103,052 shares in the company, valued at approximately $4,440,510.68. The disclosure for this sale can be found here. Insiders sold 40,289,848 shares of company stock worth $1,600,694,061 in the last ninety days. 0.04% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Nationwide Fund Advisors increased its stake in shares of General Motors by 1.0% during the third quarter. Nationwide Fund Advisors now owns 681,057 shares of the auto manufacturer’s stock worth $27,501,000 after buying an additional 6,425 shares during the period. Victory Capital Management Inc. increased its stake in shares of General Motors by 17.4% during the third quarter. Victory Capital Management Inc. now owns 211,515 shares of the auto manufacturer’s stock worth $8,541,000 after buying an additional 31,374 shares during the period. Bessemer Group Inc. increased its stake in shares of General Motors by 12.6% during the third quarter. Bessemer Group Inc. now owns 15,173 shares of the auto manufacturer’s stock worth $613,000 after buying an additional 1,694 shares during the period. Intrust Bank NA increased its stake in shares of General Motors by 32.7% during the third quarter. Intrust Bank NA now owns 9,519 shares of the auto manufacturer’s stock worth $384,000 after buying an additional 2,345 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of General Motors by 56.2% during the third quarter. Teacher Retirement System of Texas now owns 672,323 shares of the auto manufacturer’s stock worth $27,148,000 after buying an additional 241,968 shares during the period. 73.61% of the stock is currently owned by institutional investors and hedge funds.
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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.
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