General Motors (NYSE:GM) PT Raised to $56.00 at Royal Bank of Canada

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective lifted by equities researchers at Royal Bank of Canada from $54.00 to $56.00 in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has an “overweight” rating on the auto manufacturer’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 24.25% from the company’s previous close.

A number of other brokerages have also weighed in on GM. Wells Fargo & Company increased their target price on General Motors from $27.00 to $28.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 31st. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Thursday, January 4th. Wedbush increased their target price on General Motors from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Piper Sandler started coverage on General Motors in a research note on Friday, March 15th. They set a “neutral” rating and a $44.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Motors presently has an average rating of “Moderate Buy” and an average price target of $54.35.

General Motors Price Performance

NYSE:GM opened at $45.07 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The stock’s 50 day moving average price is $42.00 and its two-hundred day moving average price is $36.12. The firm has a market capitalization of $52.03 billion, a price-to-earnings ratio of 6.17, a P/E/G ratio of 0.51 and a beta of 1.51. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04.

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

Insider Buying and Selling at General Motors

In other news, EVP Julian G. Blissett sold 13,826 shares of the 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 transaction, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Julian G. Blissett sold 13,826 shares of the 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 transaction, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the transaction, 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. In the last quarter, insiders have 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

Several large investors have recently bought and sold shares of GM. SouthState Corp raised its position in shares of General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares in the last quarter. Highlander Capital Management LLC bought a new position in shares of General Motors in the 4th quarter worth about $27,000. Cape Investment Advisory Inc. raised its position in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares in the last quarter. BluePath Capital Management LLC bought a new position in shares of General Motors in the 3rd quarter worth about $33,000. Finally, Sachetta LLC bought a new position in shares of General Motors in the 4th quarter worth about $33,000. 92.67% of the stock is owned by 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.