General Motors (NYSE:GM) (TSE:GMM.U)‘s stock had its “equal weight” rating restated by research analysts at Morgan Stanley in a report issued on Wednesday. They presently have a $45.00 target price on the auto manufacturer’s stock, up from their prior target price of $44.00. Morgan Stanley’s price objective would suggest a potential upside of 19.21% from the stock’s previous close.
Several other research firms have also issued reports on GM. Zacks Investment Research raised General Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Bank of America reiterated a “buy” rating and issued a $57.00 price objective on shares of General Motors in a research report on Tuesday, November 28th. Guggenheim upgraded General Motors from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday, November 20th. Barclays reiterated a “buy” rating and issued a $61.00 price objective on shares of General Motors in a research report on Tuesday, January 9th. Finally, Deutsche Bank reiterated a “buy” rating on shares of General Motors in a research report on Friday, November 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. General Motors currently has an average rating of “Buy” and an average target price of $44.79.
General Motors (NYSE:GM) traded up $0.06 during midday trading on Wednesday, reaching $37.75. The company’s stock had a trading volume of 636,739 shares, compared to its average volume of 13,692,059. The stock has a market cap of $53,329.66, a PE ratio of -13.10, a PEG ratio of 0.73 and a beta of 1.60. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.89 and a quick ratio of 0.76. General Motors has a fifty-two week low of $31.92 and a fifty-two week high of $46.76.
In other news, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $45.00, for a total value of $2,269,935.00. Following the sale, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,569,095. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Thomas S. Timko sold 8,461 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $42.06, for a total value of $355,869.66. Following the completion of the sale, the chief accounting officer now directly owns 33,519 shares in the company, valued at $1,409,809.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,289,848 shares of company stock worth $1,600,694,061. 0.04% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Icon Wealth Partners LLC bought a new position in shares of General Motors in the fourth quarter worth about $106,000. Fieldpoint Private Securities LLC purchased a new position in shares of General Motors in the 3rd quarter worth approximately $119,000. Cerebellum GP LLC purchased a new position in shares of General Motors in the 4th quarter worth approximately $123,000. Independence Bank of Kentucky purchased a new position in shares of General Motors in the 4th quarter worth approximately $129,000. Finally, Stumpf Capital Management LLC purchased a new position in shares of General Motors in the 4th quarter worth approximately $131,000. 73.61% 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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