General Motors (NYSE:GM) Now Covered by Sanford C. Bernstein

Research analysts at Sanford C. Bernstein assumed coverage on shares of General Motors (NYSE:GM) (TSE:GMM.U) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $55.00 price target on the auto manufacturer’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 20.03% from the stock’s previous close.

Several other research analysts also recently commented on the company. Citigroup lifted their price objective on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday. Tigress Financial boosted their price objective on General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Wedbush raised their target price on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays upped their price target on shares of General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.65.

General Motors Price Performance

Shares of General Motors stock opened at $45.82 on Thursday. The firm has a market capitalization of $52.28 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17. The business’s 50-day moving average price is $42.27 and its 200-day moving average price is $36.29.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.21 earnings per share. Sell-side analysts forecast that General Motors will post 9.44 EPS for the current fiscal year.

Insider Activity

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the firm’s 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated Thursday, March 28th. The stock was 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 directly owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,248 shares of company stock worth $3,614,078. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GM. SouthState Corp lifted its position in General Motors by 173.8% during 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 period. LifeSteps Financial Inc. bought a new position in shares of General Motors during the 1st quarter valued at $25,000. Highlander Capital Management LLC bought a new position in shares of General Motors during the 4th quarter valued at $27,000. Cape Investment Advisory Inc. boosted its stake 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 buying an additional 359 shares during the last quarter. Finally, YHB Investment Advisors Inc. bought a new stake in shares of General Motors in the first quarter worth $32,000. 92.67% of the stock is owned by institutional investors.

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.