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

General Motors (NYSE:GM) (TSE:GMM.U) had its target price increased by JPMorgan Chase & Co. from $64.00 to $70.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an overweight rating on the auto manufacturer’s stock.

GM has been the topic of several other reports. The Goldman Sachs Group boosted their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $54.00 target price on shares of General Motors in a research report on Wednesday, October 9th. DZ Bank lowered 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. Wells Fargo & Company upped their target price on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Sanford C. Bernstein lowered General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 target price on the stock. in a research report on Monday, September 23rd. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.92.

General Motors Price Performance

Shares of 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 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 moving average price is $47.81 and its two-hundred day moving average price is $46.20. The firm has a market cap of $58.52 billion, a PE ratio of 5.55, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the firm earned $2.28 earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that General Motors will post 10.05 EPS for the current year.

General Motors Dividend Announcement

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

Insider Buying and Selling at General Motors

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 value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Rory Harvey sold 9,307 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $459,787.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 531,228 shares of company stock worth $28,267,714 in the last quarter. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of General Motors during the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the 2nd quarter worth $28,000. Fortitude Family Office LLC grew its stake in shares of General Motors by 56.1% during the 2nd 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. bought a new position in shares of General Motors during the 1st quarter worth $30,000. Finally, EdgeRock Capital LLC purchased a new stake in General Motors during the 2nd quarter worth about $33,000. Institutional investors own 92.67% of the company’s stock.

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.