General Motors (NYSE:GM) (TSE:GMM.U) had its price objective upped by Bank of America from $57.00 to $60.00 in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the auto manufacturer’s stock. Bank of America’s price objective would indicate a potential upside of 47.24% from the stock’s current price.
A number of other equities analysts have also recently issued reports on GM. Berenberg Bank set a $34.00 target price on General Motors and gave the stock a “sell” rating in a report on Wednesday. Jefferies Group increased their target price on General Motors from $36.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, October 30th. Zacks Investment Research upgraded General Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Goldman Sachs Group cut General Motors from a “neutral” rating to a “sell” rating and cut their target price for the stock from $43.16 to $32.00 in a report on Monday, October 30th. Finally, Vetr upgraded General Motors from a “strong sell” rating to a “sell” rating and set a $40.24 target price on the stock in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $44.32.
General Motors (GM) opened at $40.75 on Wednesday. The stock has a market capitalization of $59,457.48, a P/E ratio of -14.10, a price-to-earnings-growth ratio of 0.73 and a beta of 1.59. General Motors has a twelve month low of $31.92 and a twelve month high of $46.76. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 1.86.
In related news, EVP Stefan Jacoby sold 37,961 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $42.87, for a total value of $1,627,388.07. Following the completion of the sale, the executive vice president now directly owns 98,340 shares of the company’s stock, valued at approximately $4,215,835.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Barry L. Engle II sold 50,443 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $45.00, for a total value of $2,269,935.00. Following the completion of the sale, the insider now directly owns 57,091 shares of the company’s stock, valued at $2,569,095. The disclosure for this sale can be found here. Insiders sold a total of 168,847 shares of company stock valued at $7,363,108 over the last three months. 0.04% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wisconsin Investment Board increased its position in shares of General Motors by 10.8% during the 4th quarter. State of Wisconsin Investment Board now owns 1,647,099 shares of the auto manufacturer’s stock valued at $67,515,000 after purchasing an additional 160,483 shares during the last quarter. Squar Milner Financial Services LLC purchased a new stake in shares of General Motors during the 4th quarter valued at $211,000. MUFG Americas Holdings Corp purchased a new stake in shares of General Motors during the 4th quarter valued at $394,000. D.A. Davidson & CO. increased its position in shares of General Motors by 13.6% during the 4th quarter. D.A. Davidson & CO. now owns 111,170 shares of the auto manufacturer’s stock valued at $4,557,000 after purchasing an additional 13,290 shares during the last quarter. Finally, Independence Bank of Kentucky purchased a new stake in shares of General Motors during the 4th quarter valued at $129,000. 72.49% of the stock is owned by institutional investors and hedge funds.
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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