General Motors (NYSE:GM) Hits New 1-Year High at $62.44


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General Motors (NYSE:GM) (TSE:GMM.U)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $62.44 and last traded at $62.32, with a volume of 1314825 shares changing hands. The stock had previously closed at $61.04.

Several equities analysts recently issued reports on the stock. Citigroup boosted their target price on shares of General Motors from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 25th. Jefferies Financial Group raised their target price on General Motors from $50.00 to $62.00 and gave the company a “hold” rating in a research report on Monday, March 29th. They noted that the move was a valuation call. TheStreet raised General Motors from a “c+” rating to a “b” rating in a report on Wednesday, February 10th. Nomura raised General Motors from a “neutral” rating to a “buy” rating and upped their target price for the stock from $27.00 to $60.00 in a research note on Wednesday, January 13th. Finally, Morgan Stanley set a $80.00 target price on General Motors and gave the company an “underweight” rating in a research report on Friday, January 29th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $59.47.

The stock has a market capitalization of $87.65 billion, a PE ratio of 27.28, a P/E/G ratio of 0.85 and a beta of 1.42. The company’s 50 day moving average price is $55.72 and its two-hundred day moving average price is $45.27. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.11 and a quick ratio of 0.97.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, February 9th. The auto manufacturer reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.33. The company had revenue of $37.50 billion during the quarter, compared to the consensus estimate of $36.34 billion. General Motors had a net margin of 2.92% and a return on equity of 9.78%. General Motors’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS. Analysts forecast that General Motors will post 4.68 earnings per share for the current year.

In related news, CEO Mary T. Barra sold 1,303,027 shares of the firm’s stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $57.97, for a total transaction of $75,536,475.19. Following the completion of the sale, the chief executive officer now directly owns 1,922,883 shares in the company, valued at $111,469,527.51. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Julian G. Blissett sold 15,533 shares of General Motors stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $62.03, for a total transaction of $963,511.99. Following the transaction, the executive vice president now directly owns 49,926 shares in the company, valued at $3,096,909.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,687,265 shares of company stock worth $97,013,151. 0.65% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GM. Advisor Partners LLC raised its position in General Motors by 6.1% in the third quarter. Advisor Partners LLC now owns 35,179 shares of the auto manufacturer’s stock valued at $1,041,000 after purchasing an additional 2,033 shares during the period. WESPAC Advisors LLC acquired a new stake in shares of General Motors during the 4th quarter worth about $1,385,000. Mercer Global Advisors Inc. ADV raised its holdings in General Motors by 14.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 30,476 shares of the auto manufacturer’s stock valued at $1,269,000 after buying an additional 3,793 shares during the period. IFM Investors Pty Ltd lifted its position in General Motors by 17.6% in the fourth quarter. IFM Investors Pty Ltd now owns 124,117 shares of the auto manufacturer’s stock valued at $5,168,000 after buying an additional 18,603 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in General Motors by 2.9% during the fourth quarter. Capital Investment Advisors LLC now owns 7,361 shares of the auto manufacturer’s stock worth $306,000 after buying an additional 207 shares during the period. Hedge funds and other institutional investors own 77.70% of the company’s stock.

About General Motors (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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