General Motors’ (GM) Hold Rating Reiterated at Deutsche Bank Aktiengesellschaft

General Motors (NYSE:GM) (TSE:GMM.U)‘s stock had its “hold” rating reaffirmed by Deutsche Bank Aktiengesellschaft in a report released on Tuesday, Benzinga reports. They currently have a $53.00 price objective on the auto manufacturer’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 11.81% from the company’s previous close.

Several other brokerages also recently weighed in on GM. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $46.00 to $47.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price target on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Nomura Securities raised shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Bank of America reiterated a “buy” rating and set a $75.00 target price on shares of General Motors in a report on Wednesday, June 12th. Finally, Wolfe Research assumed coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.32.

General Motors Price Performance

GM stock opened at $47.40 on Tuesday. The firm has a market cap of $54.08 billion, a P/E ratio of 5.79, a P/E/G ratio of 0.47 and a beta of 1.43. The firm’s fifty day moving average is $46.29 and its 200 day moving average is $44.88. General Motors has a 52 week low of $26.30 and a 52 week high of $50.50. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. During the same period last year, the firm earned $1.91 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts predict that General Motors will post 9.94 earnings per share for the current year.

General Motors declared that its Board of Directors has initiated a stock buyback program on Tuesday, June 11th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at General Motors

In other General Motors news, CFO Paul A. Jacobson acquired 25,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now owns 261,872 shares in the company, valued at $11,551,173.92. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the purchase, the chief financial officer now owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 12,795 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Capital World Investors raised its stake in shares of General Motors by 14.6% in the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares during the last quarter. Putnam Investments LLC raised its position in General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after buying an additional 2,905,689 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after buying an additional 3,247,050 shares during the last quarter. Norges Bank bought a new position in General Motors during the 4th quarter valued at about $602,280,000. Finally, Franklin Resources Inc. boosted its holdings in shares of General Motors by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 13,731,249 shares of the auto manufacturer’s stock valued at $493,226,000 after acquiring an additional 1,472,297 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other 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.