General Motors (NYSE:GM) Raised to Equal Weight at Morgan Stanley

General Motors (NYSE:GM) (TSE:GMM.U) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, Marketbeat reports. The firm presently has a $54.00 price objective on the auto manufacturer’s stock, up from their prior price objective of $46.00. Morgan Stanley’s price target would suggest a potential upside of 2.39% from the company’s previous close.

Other analysts have also recently issued reports about the company. Mizuho increased their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday. UBS Group raised their target price on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research report on Friday, October 11th. Wedbush lifted their price objective on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Wolfe Research started coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus target price of $58.89.

General Motors Stock Down 1.3 %

Shares of General Motors stock opened at $52.74 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average price of $52.41 and a 200 day moving average price of $48.47. General Motors has a fifty-two week low of $32.83 and a fifty-two week high of $61.24. The firm has a market cap of $57.99 billion, a P/E ratio of 5.62, a P/E/G ratio of 0.40 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.28 EPS. On average, sell-side analysts forecast that General Motors will post 10.35 earnings per share for the current fiscal year.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the sale, the president now directly owns 126,907 shares in the company, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,030,475 shares of company stock worth $56,509,286. Corporate insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors during the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new stake in shares of General Motors during the third quarter worth $27,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors during the second quarter valued at $28,000. Truvestments Capital LLC acquired a new position in General Motors in the 3rd quarter worth about $27,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of General Motors during the 2nd quarter worth about $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

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.