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

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective reduced by JPMorgan Chase & Co. from $64.00 to $53.00 in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm currently has an “overweight” rating on the auto manufacturer’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 4.06% from the company’s current price.

A number of other research analysts also recently issued reports on the company. TD Cowen assumed coverage on General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective on the stock. Mizuho boosted their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a research note on Saturday, March 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and an average price target of $62.11.

General Motors Stock Performance

NYSE:GM opened at $50.93 on Thursday. The company has a market capitalization of $50.68 billion, a PE ratio of 8.28, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The company has a 50 day simple moving average of $49.07 and a two-hundred day simple moving average of $50.55.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Research analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On General Motors

Several institutional investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its position in General Motors by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of General Motors by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after purchasing an additional 176,436 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of General Motors by 6.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after buying an additional 989,750 shares during the last quarter. Dimensional Fund Advisors LP grew its position in General Motors by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer’s stock valued at $749,382,000 after buying an additional 228,408 shares during the period. Finally, Norges Bank purchased a new stake in General Motors during the fourth quarter worth about $592,321,000. 92.67% of the stock is owned by institutional investors.

General Motors Company Profile

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.