General Motors (NYSE:GM) PT Lowered to $44.00 at Morgan Stanley

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) had its price target lowered by Morgan Stanley from $50.00 to $44.00 in a research note issued to investors on Friday, The Fly reports.

GM has been the topic of several other research reports. Wells Fargo & Company cut shares of General Motors from an overweight rating to an underweight rating and reduced their target price for the company from $74.00 to $33.00 in a report on Wednesday. Credit Suisse Group restated an outperform rating and issued a $75.00 price objective (down from $78.00) on shares of General Motors in a report on Wednesday, February 2nd. BNP Paribas initiated coverage on shares of General Motors in a research note on Monday, April 11th. They set an outperform rating for the company. Barclays cut their price target on General Motors from $59.00 to $52.00 in a research note on Wednesday, April 27th. Finally, Berenberg Bank assumed coverage on General Motors in a research report on Tuesday. They set a buy rating and a $55.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of Buy and a consensus target price of $63.09.

Shares of General Motors stock traded up $2.65 during trading hours on Friday, reaching $38.21. 22,997,285 shares of the company were exchanged, compared to its average volume of 15,989,907. The firm has a market cap of $55.72 billion, a PE ratio of 6.34, a PEG ratio of 0.54 and a beta of 1.20. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.93 and a current ratio of 1.11. General Motors has a 1 year low of $34.58 and a 1 year high of $67.21. The stock’s fifty day moving average is $41.13 and its 200 day moving average is $50.80.

General Motors (NYSE:GMGet Rating) (TSE:GMM.U) last released its earnings results on Tuesday, April 26th. The auto manufacturer reported $2.09 EPS for the quarter, topping the consensus estimate of $1.56 by $0.53. The firm had revenue of $35.98 billion during the quarter, compared to analysts’ expectations of $36.25 billion. General Motors had a return on equity of 16.37% and a net margin of 7.61%. During the same period in the previous year, the firm posted $2.25 EPS. Research analysts expect that General Motors will post 6.98 earnings per share for the current year.

In related news, EVP Stephen K. Carlisle sold 25,645 shares of General Motors stock in a transaction on Friday, April 29th. The shares were sold at an average price of $39.04, for a total value of $1,001,180.80. Following the transaction, the executive vice president now directly owns 64,170 shares in the company, valued at approximately $2,505,196.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Julian G. Blissett sold 21,742 shares of the company’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $50.04, for a total transaction of $1,087,969.68. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of GM. SVB Wealth LLC boosted its holdings in General Motors by 14.3% in the 1st quarter. SVB Wealth LLC now owns 12,383 shares of the auto manufacturer’s stock valued at $542,000 after purchasing an additional 1,553 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of General Motors by 21.1% in the first quarter. Proficio Capital Partners LLC now owns 7,837 shares of the auto manufacturer’s stock valued at $343,000 after buying an additional 1,366 shares in the last quarter. Renaissance Technologies LLC grew its holdings in General Motors by 1,257.3% during the first quarter. Renaissance Technologies LLC now owns 2,368,500 shares of the auto manufacturer’s stock worth $103,598,000 after acquiring an additional 2,194,000 shares during the period. Snider Financial Group raised its position in General Motors by 1.4% in the first quarter. Snider Financial Group now owns 47,482 shares of the auto manufacturer’s stock worth $2,077,000 after acquiring an additional 633 shares in the last quarter. Finally, Weik Capital Management lifted its holdings in General Motors by 3.1% in the first quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock valued at $397,000 after acquiring an additional 275 shares during the period. 82.66% of the stock is owned by hedge funds and other institutional investors.

About General Motors (Get Rating)

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. The company operates through GM North America, GM International, Cruise, and GM Financial segments.

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