General Motors (NYSE:GM) Price Target Lowered to $35.00 at Wells Fargo & Company

General Motors (NYSE:GM) (TSE:GMM.U) had its price target lowered by equities research analysts at Wells Fargo & Company from $38.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the auto manufacturer’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 33.21% from the company’s current price.

Other analysts have also issued reports about the stock. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research report on Friday, October 11th. JPMorgan Chase & Co. boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group lifted their price target on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. 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. Finally, Wedbush lifted their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus price target of $58.70.

General Motors Stock Performance

NYSE:GM opened at $52.40 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm’s fifty day simple moving average is $53.00 and its 200-day simple moving average is $48.72. General Motors has a fifty-two week low of $34.32 and a fifty-two week high of $61.24. The stock has a market cap of $57.62 billion, a PE ratio of 5.59, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.28 EPS. Analysts expect that General Motors will post 10.35 earnings per share for the current fiscal year.

Insider Transactions at General Motors

In other news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is owned by insiders.

Institutional Investors Weigh In On General Motors

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in General Motors by 178.3% in the 2nd quarter. Blue Trust Inc. now owns 2,510 shares of the auto manufacturer’s stock worth $114,000 after purchasing an additional 1,608 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of General Motors by 3.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 196,011 shares of the auto manufacturer’s stock worth $9,107,000 after purchasing an additional 7,136 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in General Motors by 75.5% in the second quarter. Pallas Capital Advisors LLC now owns 13,114 shares of the auto manufacturer’s stock valued at $651,000 after buying an additional 5,642 shares during the period. SeaCrest Wealth Management LLC increased its stake in shares of General Motors by 3.5% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after acquiring an additional 227 shares during the last quarter. Finally, Legacy Capital Group California Inc. bought a new stake in shares of General Motors in the second quarter worth about $205,000. 92.67% of the stock is owned by institutional investors and hedge funds.

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.