General Motors (NYSE:GM) Price Target Increased to $70.00 by Analysts at JPMorgan Chase & Co.

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

Several other research firms have also weighed in on GM. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. Sanford C. Bernstein lowered General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target on the stock. in a research report on Monday, September 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $54.00 price objective on shares of General Motors in a research note on Wednesday, October 9th. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors presently has an average rating of “Hold” and an average price target of $56.97.

General Motors Stock Down 1.5 %

Shares of NYSE GM opened at $52.91 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $60.37 billion, a PE ratio of 6.47, a P/E/G ratio of 0.56 and a beta of 1.42. The firm has a fifty day moving average of $47.52 and a 200-day moving average of $46.09. General Motors has a 52-week low of $26.30 and a 52-week high of $54.19.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period last year, the business posted $2.28 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, analysts anticipate that General Motors will post 9.95 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is 5.87%.

Insider Activity at General Motors

In other General Motors news, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new position in General Motors during the 2nd quarter valued at $25,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors in the second quarter valued at $28,000. Fortitude Family Office LLC lifted its holdings 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 valued at $29,000 after buying an additional 225 shares during the period. Montag A & Associates Inc. bought a new position in General Motors during the first quarter valued at about $30,000. Finally, EdgeRock Capital LLC acquired a new position in General Motors during the second quarter worth about $33,000. Institutional investors and hedge funds 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.