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

General Motors (NYSE:GM) (TSE:GMM.U) had its price target upped by research analysts at Piper Sandler from $44.00 to $45.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the auto manufacturer’s stock. Piper Sandler’s price target would suggest a potential downside of 1.36% from the stock’s current price.

A number of other brokerages have also recently issued reports on GM. The Goldman Sachs Group increased their target price on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Royal Bank of Canada raised their price objective on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley boosted their target price on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Wells Fargo & Company raised their price target on General Motors from $28.00 to $30.00 and gave the company an “underweight” rating in a research report on Wednesday. Finally, Barclays boosted their price objective on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.38.

General Motors Stock Up 1.2 %

General Motors stock opened at $45.62 on Wednesday. The stock’s 50 day moving average price is $42.13 and its 200 day moving average price is $36.19. General Motors has a 1-year low of $26.30 and a 1-year high of $46.04. The company has a market cap of $52.67 billion, a PE ratio of 5.58, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.90.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 EPS. On average, sell-side analysts predict that General Motors will post 9.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GM. Vanguard Group Inc. increased its stake in General Motors by 1.4% during the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after acquiring an additional 1,580,681 shares during the last quarter. Putnam Investments LLC grew its holdings in shares of General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of General Motors by 21.9% during 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 acquired a new stake in General Motors during the 4th quarter worth approximately $602,280,000. Finally, Morgan Stanley raised its holdings in General Motors by 1.3% in the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock valued at $501,562,000 after buying an additional 201,080 shares during the period. 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.