Fintel reports that on August 9, 2023, RBC Capital reiterated coverage of General Motors (NYSE:GM) with a Outperform recommendation.
Analyst Price Forecast Suggests 40.11% Upside
As of August 2, 2023, the average one-year price target for General Motors is 50.80. The forecasts range from a low of 33.33 to a high of $99.75. The average price target represents an increase of 40.11% from its latest reported closing price of 36.26.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for General Motors is 165,001MM, a decrease of 2.79%. The projected annual non-GAAP EPS is 6.16.
What is the Fund Sentiment?
There are 2109 funds or institutions reporting positions in General Motors. This is a decrease of 13 owner(s) or 0.61% in the last quarter. Average portfolio weight of all funds dedicated to GM is 0.33%, a decrease of 8.31%. Total shares owned by institutions decreased in the last three months by 2.66% to 1,319,788K shares. 
The put/call ratio of GM is 1.01, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital World Investors holds 52,835K shares representing 3.84% ownership of the company. In it's prior filing, the firm reported owning 54,474K shares, representing a decrease of 3.10%. The firm increased its portfolio allocation in GM by 2.54% over the last quarter.
Capital Research Global Investors holds 41,061K shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 78,404K shares, representing a decrease of 90.94%. The firm decreased its portfolio allocation in GM by 46.08% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 40,909K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 40,959K shares, representing a decrease of 0.12%. The firm increased its portfolio allocation in GM by 0.56% over the last quarter.
Berkshire Hathaway holds 40,000K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 50,000K shares, representing a decrease of 25.00%. The firm decreased its portfolio allocation in GM by 19.77% over the last quarter.
Harris Associates L P holds 38,416K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 39,376K shares, representing a decrease of 2.50%. The firm increased its portfolio allocation in GM by 1.41% over the last quarter.
General Motors Background Information
(This description is provided by the company.)
General Motors is a global company committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet,Buick,GMC,Cadillac, Baojun and Wuling brands.
Additional reading:
- Powers of Attorney for directors of General Motors Company
- General Motors Company and Subsidiaries Supplemental Material1
- For release: Tuesday, July 25, 2023, at 6:30 a.m. ET GM Releases 2023 Second-Quarter Results and Raises Full-Year Earnings Guidance DETROIT – General Motors Co. (NYSE: GM) today reported second-quarter 2023 revenue of $44.7 billion, net income attrib
- GM Announces Executive Leadership Changes
- General Motors Company and Subsidiaries Supplemental Material1
This story originally appeared on Fintel.
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