General Motors Company (GM) Upgraded by Barclays PLC to Overweight

General Motors Company (NYSE:GM) (TSE:GMM.U) was upgraded by stock analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a research report issued on Friday, Marketbeat reports. The firm presently has a $55.00 price target on the auto manufacturer’s stock, up from their prior price target of $41.00. Barclays PLC’s price objective would indicate a potential upside of 22.52% from the company’s previous close.

Several other brokerages have also recently commented on GM. UBS AG restated a “buy” rating and set a $50.00 target price (up previously from $39.00) on shares of General Motors in a report on Wednesday. Citigroup Inc. restated a “buy” rating and set a $53.00 target price on shares of General Motors in a report on Monday. Royal Bank Of Canada increased their target price on shares of General Motors from $38.00 to $44.00 and gave the stock a “sector perform” rating in a report on Thursday, October 5th. Instinet restated a “buy” rating and set a $43.00 target price on shares of General Motors in a report on Tuesday, October 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $43.00 target price on shares of General Motors in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, twelve have issued 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 $42.50.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Thomson Reuters’ 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 prior year, the company posted $1.86 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis.

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In related news, Director Jane L. Mendillo purchased 1,440 shares of General Motors stock in a transaction dated Friday, August 18th. The shares were bought at an average cost of $34.86 per share, for a total transaction of $50,198.40. Following the purchase, the director now owns 4,560 shares in the company, valued at approximately $158,961.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alicia S. Boler-Davis sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of $45.00, for a total transaction of $450,000.00. The disclosure for this sale can be found here. Insiders have sold 852,901 shares of company stock worth $32,378,733 over the last quarter. Corporate insiders own 0.04% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Intrust Bank NA boosted its stake in shares of General Motors by 0.3% in the 2nd quarter. Intrust Bank NA now owns 7,174 shares of the auto manufacturer’s stock valued at $250,000 after purchasing an additional 25 shares in the last quarter. IFC Holdings Incorporated FL boosted its stake in shares of General Motors by 0.3% in the 2nd quarter. IFC Holdings Incorporated FL now owns 32,119 shares of the auto manufacturer’s stock valued at $1,120,000 after purchasing an additional 88 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of General Motors by 1.8% in the 2nd quarter. Rehmann Capital Advisory Group now owns 6,583 shares of the auto manufacturer’s stock valued at $230,000 after purchasing an additional 115 shares in the last quarter. Alpha Windward LLC boosted its stake in shares of General Motors by 2.3% in the 2nd quarter. Alpha Windward LLC now owns 5,542 shares of the auto manufacturer’s stock valued at $194,000 after purchasing an additional 125 shares in the last quarter. Finally, Heritage Investors Management Corp boosted its stake in shares of General Motors by 0.3% in the 2nd quarter. Heritage Investors Management Corp now owns 49,657 shares of the auto manufacturer’s stock valued at $1,735,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 72.22% 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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