JPMorgan Chase & Co. Cuts General Motors (NYSE:GM) Price Target to $53.00

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U had its price target lowered by investment analysts at JPMorgan Chase & Co. from $64.00 to $53.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has an "overweight" rating on the auto manufacturer's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 13.10% from the company's previous close.

Several other equities research analysts have also recently weighed in on GM. Piper Sandler increased their price target on General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Cowen initiated coverage on shares of General Motors in a report on Thursday, March 6th. They set a "buy" rating for the company. Morgan Stanley raised shares of General Motors from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a research note on Saturday, March 1st. Finally, Hsbc Global Res cut shares of General Motors from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, General Motors currently has an average rating of "Hold" and a consensus target price of $62.11.

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General Motors Trading Up 0.4 %

NYSE GM traded up $0.18 during trading hours on Thursday, reaching $46.86. The company's stock had a trading volume of 5,844,231 shares, compared to its average volume of 13,300,832. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market cap of $46.63 billion, a P/E ratio of 7.61, a P/E/G ratio of 0.67 and a beta of 1.42. The firm has a fifty day simple moving average of $48.89 and a 200-day simple moving average of $50.61.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by insiders.

Institutional Trading of General Motors

Several institutional investors and hedge funds have recently made changes to their positions in GM. Trust Point Inc. increased its position in shares of General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock valued at $386,000 after purchasing an additional 193 shares during the last quarter. Avestar Capital LLC lifted its position in shares of General Motors by 2.3% during the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer's stock worth $430,000 after acquiring an additional 213 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock worth $131,000 after acquiring an additional 213 shares during the period. Holistic Planning LLC grew its position in shares of General Motors by 3.9% in the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock valued at $307,000 after purchasing an additional 214 shares in the last quarter. Finally, Nemes Rush Group LLC lifted its holdings in General Motors by 18.7% during the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock worth $73,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other 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.