General Motors (NYSE:GM) PT Raised to $70.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price raised by research analysts at Barclays from $64.00 to $70.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the auto manufacturer’s stock. Barclays‘s price objective points to a potential upside of 32.83% from the company’s current price.

Several other brokerages have also recently commented on GM. Wedbush reissued an “outperform” rating and issued a $55.00 price target on shares of General Motors in a research note on Wednesday, October 9th. Morgan Stanley lowered General Motors from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Nomura Securities raised General Motors to a “strong sell” rating in a report on Monday, August 5th. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.97.

General Motors Stock Performance

Shares of NYSE GM opened at $52.70 on Wednesday. The stock has a 50 day simple moving average of $47.52 and a 200-day simple moving average of $46.09. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The company has a market cap of $60.13 billion, a PE ratio of 6.44, a P/E/G ratio of 0.56 and a beta of 1.42. General Motors has a 12-month low of $26.30 and a 12-month high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.28 earnings per share. On average, equities research analysts forecast that General Motors will post 9.95 EPS for the current year.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 531,228 shares of company stock valued at $28,267,714. 0.72% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Motors

Several hedge funds have recently modified their holdings of GM. Capital World Investors grew its holdings in shares of General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the last quarter. Bank of New York Mellon Corp increased its position in General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after acquiring an additional 135,717 shares during the period. Dimensional Fund Advisors LP increased its position in General Motors by 9.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after acquiring an additional 1,091,137 shares during the period. LSV Asset Management raised its stake in shares of General Motors by 2.6% during the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after acquiring an additional 223,260 shares during the last quarter. Finally, ACR Alpine Capital Research LLC lifted its holdings in shares of General Motors by 8.4% during the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after purchasing an additional 492,693 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.