JPMorgan Chase & Co. Increases General Motors (NYSE:GM) Price Target to $70.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective hoisted by JPMorgan Chase & Co. from $64.00 to $70.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has an overweight rating on the auto manufacturer’s stock.

A number of other equities analysts also recently weighed in on GM. The Goldman Sachs Group boosted their price target on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $54.00 target price on shares of General Motors in a research report on Wednesday, October 9th. Wells Fargo & Company upped their target price on General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Wedbush upped their target price on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Stock Performance

GM opened at $52.07 on Wednesday. General Motors has a 52-week low of $26.30 and a 52-week high of $54.29. The firm has a market capitalization of $58.52 billion, a PE ratio of 5.55, a PEG ratio of 0.60 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.21. The business’s 50-day simple moving average is $47.81 and its 200 day simple moving average is $46.20.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping 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%. General Motors’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.28 earnings per share. As a group, sell-side analysts expect that General Motors will post 10.05 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is presently 5.12%.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 531,228 shares of company stock worth $28,267,714 over the last three months. Insiders own 0.72% of the company’s stock.

Institutional Trading of General Motors

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors in the second quarter worth approximately $25,000. Wellington Shields Capital Management LLC acquired a new position in shares of General Motors in the second quarter worth approximately $28,000. Fortitude Family Office LLC lifted its stake in shares of General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the period. Montag A & Associates Inc. acquired a new position in shares of General Motors in the first quarter worth approximately $30,000. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors in the second quarter worth approximately $33,000. 92.67% of the stock is currently owned by institutional investors.

General Motors Company Profile

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.