General Motors (NYSE:GM) PT Raised to $45.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target increased by equities research analysts at Piper Sandler from $44.00 to $45.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the auto manufacturer’s stock. Piper Sandler’s target price suggests a potential upside of 0.69% from the stock’s current price.

A number of other analysts also recently issued reports on GM. The Goldman Sachs Group raised their price target on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Barclays upped their price target on General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Thursday, January 4th. Royal Bank of Canada boosted their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Morgan Stanley upped their price target on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.46.

General Motors Price Performance

General Motors stock traded down $0.41 during mid-day trading on Wednesday, hitting $44.69. The stock had a trading volume of 6,682,790 shares, compared to its average volume of 17,444,070. The firm has a market capitalization of $51.59 billion, a P/E ratio of 6.14, a P/E/G ratio of 0.51 and a beta of 1.51. General Motors has a one year low of $26.30 and a one year high of $46.04. The firm’s 50 day moving average is $41.86 and its 200 day moving average is $36.06. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 EPS. On average, sell-side analysts forecast that General Motors will post 9.12 earnings per share for the current fiscal year.

Insider Buying and Selling at General Motors

In related news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at $860,710.14. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On General Motors

Several large investors have recently added to or reduced their stakes in GM. Vanguard Group Inc. lifted its holdings in shares of General Motors by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after purchasing an additional 1,580,681 shares in the last quarter. Putnam Investments LLC increased its stake in General Motors by 16.8% in the fourth quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock valued at $726,942,000 after acquiring 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 purchasing an additional 3,247,050 shares during the period. Norges Bank bought a new stake in General Motors in the fourth quarter valued at approximately $602,280,000. Finally, Morgan Stanley grew its holdings in shares of General Motors by 1.3% in the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after purchasing an additional 201,080 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.