General Motors (NYSE:GM) Earns "Buy" Rating from Bank of America

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U's stock had its "buy" rating reissued by stock analysts at Bank of America in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $75.00 price objective on the auto manufacturer's stock. Bank of America's price objective suggests a potential upside of 53.48% from the company's current price.

Several other analysts have also issued reports on the stock. UBS Group boosted their price target on shares of General Motors from $56.00 to $58.00 and gave the company a "buy" rating in a research report on Wednesday, April 24th. Piper Sandler boosted their price target on shares of General Motors from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Motors from $44.00 to $50.00 and gave the stock a "hold" rating in a research note on Tuesday, April 23rd. StockNews.com raised shares of General Motors from a "hold" rating to a "buy" rating in a research note on Saturday, June 1st. Finally, Sanford C. Bernstein started coverage on shares of General Motors in a research note on Thursday, April 25th. They issued an "outperform" rating and a $55.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $54.65.

General Motors Stock Performance

NYSE GM traded up $0.66 during trading hours on Wednesday, reaching $48.87. 14,216,863 shares of the company were exchanged, compared to its average volume of 16,136,367. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $55.75 billion, a P/E ratio of 5.96, a P/E/G ratio of 0.55 and a beta of 1.46. General Motors has a 1 year low of $26.30 and a 1 year high of $49.35. The business's 50 day simple moving average is $44.64 and its 200-day simple moving average is $40.09.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion for the quarter, compared to analysts' expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.21 earnings per share. On average, equities research analysts expect that General Motors will post 9.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Christopher Hatto sold 6,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $42.01, for a total value of $252,060.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,507 shares in the company, valued at approximately $651,449.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other General Motors news, EVP Rory Harvey sold 5,100 shares of the firm's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares in the company, valued at approximately $544,800.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Christopher Hatto sold 6,000 shares of the firm's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $42.01, for a total transaction of $252,060.00. Following the sale, the chief accounting officer now owns 15,507 shares of the company's stock, valued at $651,449.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 868,038 shares of company stock worth $37,904,396. 0.72% of the stock is currently owned by corporate insiders.

Institutional Trading of General Motors

A number of institutional investors and hedge funds have recently bought and sold shares of GM. Van ECK Associates Corp boosted its holdings in shares of General Motors by 78.2% during the 3rd quarter. Van ECK Associates Corp now owns 49,457 shares of the auto manufacturer's stock valued at $1,630,000 after acquiring an additional 21,711 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of General Motors by 2.7% during the 3rd quarter. Rhumbline Advisers now owns 2,813,139 shares of the auto manufacturer's stock valued at $92,749,000 after acquiring an additional 74,702 shares during the last quarter. Heritage Investors Management Corp boosted its holdings in shares of General Motors by 1.1% in the third quarter. Heritage Investors Management Corp now owns 49,753 shares of the auto manufacturer's stock worth $1,640,000 after buying an additional 545 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of General Motors by 2.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 344,682 shares of the auto manufacturer's stock worth $11,480,000 after buying an additional 6,870 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of General Motors by 7.8% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 18,059 shares of the auto manufacturer's stock worth $595,000 after buying an additional 1,304 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

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.