General Motors (NYSE:GM) Stock Rating Upgraded by Barclays

Key Points

• General Motors' stock rating was upgraded from "equal weight" to "overweight" by Barclays, with a new price target of $73.00, suggesting a potential upside of 24.45% from the current price.
• The company reported earnings of $2.53 per share, beating consensus estimates, with quarterly revenue of $47.12 billion, which was higher than expected.
• Insider activity showed significant stock selling, with EVP Rory Harvey selling over 23,900 shares, marking a 73.80% decrease in his stake, indicating potential concerns among executives.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U was upgraded by investment analysts at Barclays from an "equal weight" rating to an "overweight" rating in a research report issued on Friday, MarketBeat Ratings reports. The firm currently has a $73.00 price objective on the auto manufacturer's stock, up from their previous price objective of $55.00. Barclays's target price would suggest a potential upside of 24.45% from the company's current price.

Other equities analysts have also issued reports about the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of General Motors in a report on Thursday, July 24th. UBS Group lifted their target price on shares of General Motors from $50.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Citigroup lifted their target price on shares of General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their target price on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a report on Wednesday, July 23rd. Finally, CLSA raised shares of General Motors to a "moderate buy" rating in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.00.

General Motors Stock Performance

GM opened at $58.66 on Friday. General Motors has a 12-month low of $41.60 and a 12-month high of $61.24. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $55.85 billion, a PE ratio of 9.31, a P/E/G ratio of 1.21 and a beta of 1.32. The firm has a 50 day moving average of $54.97 and a two-hundred day moving average of $50.23.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.01. The firm had revenue of $47.12 billion during the quarter, compared to analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business's quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, analysts anticipate that General Motors will post 11.44 EPS for the current year.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 23,977 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the sale, the executive vice president owned 8,513 shares of the company's stock, valued at approximately $451,274.13. The trade was a 73.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher Hatto sold 14,667 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total transaction of $865,353.00. Following the completion of the sale, the chief accounting officer directly owned 12,007 shares of the company's stock, valued at approximately $708,413. The trade was a 54.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,070,311 shares of company stock valued at $62,095,433. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Motors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in General Motors by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 110,759,703 shares of the auto manufacturer's stock worth $5,450,485,000 after purchasing an additional 11,418,367 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of General Motors by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock valued at $676,322,000 after acquiring an additional 316,196 shares during the last quarter. Invesco Ltd. boosted its position in shares of General Motors by 4.5% during the 1st quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock valued at $646,482,000 after acquiring an additional 594,217 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of General Motors by 146.8% during the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock valued at $629,196,000 after acquiring an additional 8,012,743 shares during the last quarter. Finally, Viking Global Investors LP boosted its position in shares of General Motors by 81.1% during the 2nd quarter. Viking Global Investors LP now owns 13,018,874 shares of the auto manufacturer's stock valued at $640,659,000 after acquiring an additional 5,830,050 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.