General Motors (NYSE:GM) Price Target Raised to $100.00

General Motors (NYSE:GMFree Report) (TSE:GMM.U) had its target price lifted by JPMorgan Chase & Co. from $85.00 to $100.00 in a research note published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the auto manufacturer’s stock.

GM has been the subject of a number of other reports. Royal Bank Of Canada raised their target price on General Motors from $77.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Jefferies Financial Group raised their price objective on shares of General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, October 6th. Tigress Financial lifted their price objective on shares of General Motors from $88.00 to $92.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th. Zacks Research upgraded shares of General Motors from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Finally, Morgan Stanley upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $54.00 to $90.00 in a research note on Monday, December 8th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, General Motors presently has an average rating of “Moderate Buy” and an average target price of $80.00.

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General Motors Stock Performance

NYSE:GM opened at $79.65 on Wednesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.06 and a current ratio of 1.23. The stock has a market capitalization of $74.30 billion, a P/E ratio of 16.03, a PEG ratio of 0.63 and a beta of 1.31. The company has a 50 day moving average price of $78.57 and a 200 day moving average price of $65.77. General Motors has a fifty-two week low of $41.60 and a fifty-two week high of $85.18.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last announced its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.48. General Motors had a return on equity of 12.29% and a net margin of 1.62%.The company had revenue of $48.59 billion for the quarter, compared to analyst estimates of $44.60 billion. During the same quarter in the previous year, the company earned $2.96 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts forecast that General Motors will post 11.44 EPS for the current year.

Insider Transactions at General Motors

In related news, CAO Christopher Hatto sold 15,697 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $70.00, for a total value of $1,098,790.00. Following the transaction, the chief accounting officer owned 12,007 shares in the company, valued at $840,490. The trade was a 56.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in General Motors by 11.5% in the 2nd quarter. Vanguard Group Inc. now owns 110,759,703 shares of the auto manufacturer’s stock valued at $5,450,485,000 after buying an additional 11,418,367 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of General Motors by 3.3% in the 3rd quarter. Franklin Resources Inc. now owns 31,322,758 shares of the auto manufacturer’s stock worth $1,909,748,000 after acquiring an additional 989,189 shares during the period. Capital World Investors boosted its holdings in shares of General Motors by 8.2% in the third quarter. Capital World Investors now owns 18,130,519 shares of the auto manufacturer’s stock valued at $1,105,420,000 after acquiring an additional 1,366,467 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of General Motors by 5.5% in the third quarter. AQR Capital Management LLC now owns 14,252,689 shares of the auto manufacturer’s stock valued at $868,986,000 after acquiring an additional 748,831 shares in the last quarter. Finally, Viking Global Investors LP increased its stake in shares of General Motors by 81.1% during the second quarter. Viking Global Investors LP now owns 13,018,874 shares of the auto manufacturer’s stock worth $640,659,000 after acquiring an additional 5,830,050 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Key Headlines Impacting General Motors

Here are the key news stories impacting General Motors this week:

General Motors Company Profile

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General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.

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