General Motors (NYSE:GM) PT Raised to $30.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price lifted by equities research analysts at Wells Fargo & Company from $28.00 to $30.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the auto manufacturer’s stock. Wells Fargo & Company‘s target price points to a potential downside of 34.24% from the stock’s current price.

Several other equities analysts have also issued reports on GM. Wedbush boosted their price target on shares of General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Mizuho raised their price target on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday. Tigress Financial boosted their price objective on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Finally, Barclays raised their target price on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.38.

General Motors Price Performance

Shares of GM opened at $45.62 on Wednesday. The stock has a market cap of $52.67 billion, a P/E ratio of 5.58, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04. The stock’s 50-day moving average price is $42.13 and its two-hundred day moving average price is $36.19. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company posted $2.21 EPS. On average, equities analysts predict that General Motors will post 9.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares in the company, valued at $540,315. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at $544,800.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares in the company, valued at $540,315. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock valued at $3,614,078 in the last 90 days. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On General Motors

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of General Motors by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after buying an additional 1,580,681 shares during the last quarter. Putnam Investments LLC lifted its position in General Motors by 16.8% during the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after acquiring an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of General Motors by 21.9% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after acquiring an additional 3,247,050 shares during the period. Norges Bank acquired a new position in shares of General Motors in the fourth quarter valued at approximately $602,280,000. Finally, Morgan Stanley increased its stake in shares of General Motors by 1.3% during the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after purchasing an additional 201,080 shares during the period. 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.