General Motors (NYSE:GM) Rating Increased to Equal Weight at Morgan Stanley

General Motors (NYSE:GM) (TSE:GMM.U) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $54.00 target price on the auto manufacturer’s stock, up from their prior target price of $46.00. Morgan Stanley’s target price points to a potential upside of 2.39% from the stock’s previous close.

A number of other brokerages also recently commented on GM. DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. The Goldman Sachs Group increased their target price on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $58.89.

General Motors Trading Down 1.3 %

Shares of NYSE:GM opened at $52.74 on Tuesday. The company has a market cap of $57.99 billion, a PE ratio of 5.62, a P/E/G ratio of 0.40 and a beta of 1.42. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $52.41 and its two-hundred day moving average is $48.47. General Motors has a 52 week low of $32.83 and a 52 week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. General Motors’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.28 earnings per share. Equities analysts predict that General Motors will post 10.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Motors

A number of large investors have recently modified their holdings of GM. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors during the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in General Motors in the 3rd quarter valued at about $27,000. Truvestments Capital LLC acquired a new stake in shares of General Motors during the third quarter valued at about $27,000. Wellington Shields Capital Management LLC purchased a new stake in shares of General Motors during the second quarter worth about $28,000. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors in the second quarter worth about $33,000. 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.