Wells Fargo & Company Issues Positive Forecast for General Motors (NYSE:GM) Stock Price

General Motors (NYSE:GM) (TSE:GMM.U) had its target price upped by Wells Fargo & Company from $46.00 to $48.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the auto manufacturer’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 37.50% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings cut shares of General Motors from a “buy (b-)” rating to a “hold (c)” rating in a report on Saturday, October 25th. Wedbush set a $75.00 target price on General Motors and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Argus set a $78.00 price target on General Motors in a research note on Thursday, October 23rd. JPMorgan Chase & Co. boosted their price target on General Motors from $60.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, September 30th. Finally, Zacks Research upgraded General Motors from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.86.

General Motors Stock Up 1.4%

Shares of GM traded up $1.10 during trading hours on Tuesday, reaching $76.81. The company’s stock had a trading volume of 4,799,695 shares, compared to its average volume of 10,819,080. The company has a 50 day moving average of $66.78 and a two-hundred day moving average of $58.24. The company has a quick ratio of 1.06, a current ratio of 1.23 and a debt-to-equity ratio of 1.40. The firm has a market cap of $71.65 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 0.87 and a beta of 1.30. General Motors has a 1-year low of $41.60 and a 1-year high of $77.35.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 EPS for the quarter, topping the consensus estimate of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The business had revenue of $48.59 billion during the quarter, compared to analysts’ expectations of $44.60 billion. The firm’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the company posted $2.96 earnings per share. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. As a group, research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 753,720 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $59.95, for a total transaction of $45,185,514.00. Following the completion of the transaction, the chief executive officer directly owned 433,527 shares of the company’s stock, valued at $25,989,943.65. This trade represents a 63.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Mark L. Reuss sold 260,600 shares of General Motors stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total transaction of $17,316,870.00. Following the completion of the sale, the president owned 98,006 shares in the company, valued at $6,512,498.70. This trade represents a 72.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,288,534 shares of company stock worth $79,253,568. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On General Motors

A number of institutional investors have recently added to or reduced their stakes in GM. Steigerwald Gordon & Koch Inc. acquired a new stake in General Motors in the third quarter valued at $29,000. Kelleher Financial Advisors bought a new position in shares of General Motors during the 3rd quarter worth approximately $29,000. Trust Co. of Toledo NA OH acquired a new stake in General Motors during the 2nd quarter valued at $25,000. JPL Wealth Management LLC bought a new position in General Motors during the third quarter worth $32,000. Finally, GFG Capital LLC acquired a new position in shares of General Motors in the second quarter valued at $27,000. 92.67% of the stock is currently 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.