General Motors (NYSE:GM) Reaches New 52-Week High at $48.94


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General Motors (NYSE:GM) (TSE:GMM.U)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $48.94 and last traded at $48.65, with a volume of 1338876 shares changing hands. The stock had previously closed at $45.01.

GM has been the subject of a number of research analyst reports. Benchmark boosted their price objective on General Motors from $47.00 to $51.00 and gave the stock a “buy” rating in a report on Monday, December 21st. JPMorgan Chase & Co. increased their price objective on General Motors from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on General Motors from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. BidaskClub downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, January 6th. Finally, Morgan Stanley lifted their price objective on shares of General Motors from $44.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $49.68.

The firm has a 50 day moving average of $42.91 and a two-hundred day moving average of $33.97. The firm has a market capitalization of $69.75 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45. The company has a quick ratio of 0.97, a current ratio of 1.11 and a debt-to-equity ratio of 1.70.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Thursday, November 5th. The auto manufacturer reported $2.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $1.36. General Motors had a return on equity of 9.78% and a net margin of 2.92%. The firm had revenue of $35.48 billion during the quarter, compared to the consensus estimate of $35.35 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts forecast that General Motors will post 4.37 EPS for the current fiscal year.

In other General Motors news, CEO Mary T. Barra sold 500,000 shares of the stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $40.69, for a total value of $20,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,808,329 shares in the company, valued at $73,580,907.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher Hatto sold 8,148 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $36.00, for a total value of $293,328.00. Following the sale, the chief accounting officer now owns 10,040 shares in the company, valued at $361,440. The disclosure for this sale can be found here. In the last three months, insiders sold 1,929,301 shares of company stock valued at $83,297,074. 0.65% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of GM. Advisor Partners LLC grew its holdings in General Motors by 6.1% during the 3rd quarter. Advisor Partners LLC now owns 35,179 shares of the auto manufacturer’s stock worth $1,041,000 after acquiring an additional 2,033 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in shares of General Motors by 11.0% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 228,273 shares of the auto manufacturer’s stock valued at $6,754,000 after acquiring an additional 22,628 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of General Motors by 22.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 78,200 shares of the auto manufacturer’s stock worth $3,256,000 after purchasing an additional 14,300 shares during the period. Wedbush Securities Inc. grew its stake in shares of General Motors by 15.5% in the third quarter. Wedbush Securities Inc. now owns 22,955 shares of the auto manufacturer’s stock worth $679,000 after purchasing an additional 3,084 shares during the last quarter. Finally, TIAA FSB grew its stake in shares of General Motors by 8.7% in the third quarter. TIAA FSB now owns 28,224 shares of the auto manufacturer’s stock worth $835,000 after purchasing an additional 2,262 shares during the last quarter. Institutional investors and hedge funds own 74.27% of the company’s stock.

General Motors Company Profile (NYSE:GM)

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts 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, Holden, Baojun, and Wuling brand names.

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