Piper Sandler Boosts General Motors (NYSE:GM) Price Target to $45.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target increased by equities researchers at Piper Sandler from $44.00 to $45.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the auto manufacturer’s stock. Piper Sandler’s price objective indicates a potential downside of 1.36% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Tigress Financial increased their price target on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Redburn Atlantic started coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Finally, The Goldman Sachs Group boosted their target price on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.38.

General Motors Price Performance

GM opened at $45.62 on Wednesday. The company has a fifty day moving average price of $42.13 and a two-hundred day moving average price of $36.19. The firm has a market capitalization of $52.67 billion, a PE ratio of 5.58, a P/E/G ratio of 0.53 and a beta of 1.51. General Motors has a 52 week low of $26.30 and a 52 week high of $46.04. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that General Motors will post 9.26 earnings per share for the current year.

Insider Activity at General Motors

In related news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the transaction, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Rory Harvey sold 5,100 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $43.04, for a total transaction of $219,504.00. Following the transaction, the executive vice president now directly owns 12,658 shares in the company, valued at approximately $544,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by insiders.

Hedge Funds Weigh In On General Motors

A number of institutional investors have recently bought and sold shares of the business. SouthState Corp increased its holdings in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares during the last quarter. Highlander Capital Management LLC acquired a new position in General Motors in the 4th quarter valued at about $27,000. Cape Investment Advisory Inc. raised its holdings in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the period. BluePath Capital Management LLC acquired a new stake in General Motors during the third quarter worth approximately $33,000. Finally, Sachetta LLC acquired a new stake in General Motors during the fourth quarter worth approximately $33,000. 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.