General Motors Company (NYSE:GM) (TSE:GMM.U)‘s stock had its “buy” rating restated by research analysts at Piper Jaffray Companies in a research note issued to investors on Wednesday, July 12th. They currently have a $44.00 price target on the auto manufacturer’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 25.97% from the company’s current price.
GM has been the subject of a number of other research reports. Berenberg Bank set a $31.00 price target on shares of General Motors and gave the stock a “sell” rating in a research note on Thursday, March 16th. Tigress Financial reissued a “strong-buy” rating on shares of General Motors in a research note on Thursday, March 30th. Zacks Investment Research cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 14th. Jefferies Group LLC reissued a “buy” rating and issued a $36.00 price target on shares of General Motors in a research note on Tuesday, June 13th. Finally, Evercore ISI reissued an “in-line” rating and issued a $40.00 price target on shares of General Motors in a research note on Thursday, March 30th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. General Motors has a consensus rating of “Hold” and a consensus target price of $39.26.
Shares of General Motors (NYSE:GM) opened at 34.93 on Wednesday. The company has a market capitalization of $50.90 billion, a PE ratio of 6.07 and a beta of 1.45. General Motors has a one year low of $30.13 and a one year high of $38.55. The stock has a 50 day moving average of $35.37 and a 200-day moving average of $35.14.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business had revenue of $36.98 billion during the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter in the previous year, the company earned $1.86 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts forecast that General Motors will post $6.14 earnings per share for the current fiscal year.
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In related news, insider Karl-Thomas Neumann sold 46,472 shares of the stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $32.84, for a total value of $1,526,140.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles K. Stevens III sold 16,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $35.80, for a total transaction of $572,800.00. Following the completion of the transaction, the insider now owns 77,052 shares of the company’s stock, valued at $2,758,461.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 369,001 shares of company stock valued at $12,827,204. 0.04% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in General Motors by 4.0% in 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 in the last quarter. BlackRock Inc. raised its stake in General Motors by 1.1% in the second quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock worth $2,750,849,000 after buying an additional 850,211 shares in the last quarter. State Street Corp raised its stake in General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock worth $2,136,563,000 after buying an additional 2,252,866 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in General Motors by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 14,568,438 shares of the auto manufacturer’s stock worth $508,880,000 after buying an additional 59,774 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in General Motors by 9.9% in the first quarter. Geode Capital Management LLC now owns 14,071,387 shares of the auto manufacturer’s stock worth $496,891,000 after buying an additional 1,266,564 shares in the last quarter. Institutional investors and hedge funds own 76.02% of the company’s stock.
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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