General Motors (NYSE:GM) Price Target Raised to $45.00

General Motors (NYSE:GM) (TSE:GMM.U) had its target price hoisted by analysts at Piper Sandler from $44.00 to $45.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the auto manufacturer’s stock. Piper Sandler’s price objective would indicate a potential upside of 0.69% from the company’s previous close.

A number of other research firms also recently commented on GM. Tigress Financial boosted their price objective on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft upped their price target on General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a report on Tuesday. Morgan Stanley upped their target price on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Finally, Redburn Atlantic assumed coverage on shares of General Motors in a research report on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.46.

General Motors Stock Down 0.9 %

Shares of GM stock traded down $0.41 on Wednesday, reaching $44.69. 6,682,790 shares of the stock were exchanged, compared to its average volume of 17,444,070. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $51.59 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.51 and a beta of 1.51. The business’s 50 day moving average price is $41.86 and its 200 day moving average price is $36.06.

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 firm 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 was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $2.21 EPS. As a group, sell-side analysts expect that General Motors will post 9.12 earnings per share for the current fiscal year.

Insider Transactions at General Motors

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Gerald Johnson sold 15,190 shares of General Motors stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.03, for a total value of $608,055.70. Following the transaction, the executive vice president now owns 98,628 shares of the company’s stock, valued at approximately $3,948,078.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GM. Arkadios Wealth Advisors acquired a new stake in General Motors during the third quarter valued at $249,000. Impact Partnership Wealth LLC grew its stake in shares of General Motors by 53.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 1,649 shares of the auto manufacturer’s stock valued at $54,000 after buying an additional 577 shares in the last quarter. Founders Financial Securities LLC lifted its stake in General Motors by 6.6% in the third quarter. Founders Financial Securities LLC now owns 14,472 shares of the auto manufacturer’s stock valued at $477,000 after acquiring an additional 890 shares during the last quarter. Exchange Traded Concepts LLC grew its position in General Motors by 11,739.1% in the third quarter. Exchange Traded Concepts LLC now owns 212,631 shares of the auto manufacturer’s stock worth $7,010,000 after acquiring an additional 210,835 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of General Motors in the third quarter valued at about $122,000. Hedge funds and other institutional investors 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.