General Motors (NYSE:GM) CEO Mary T. Barra Sells 506,824 Shares

General Motors (NYSE:GM) (TSE:GMM.U) CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

General Motors Stock Performance

Shares of GM stock opened at $52.07 on Friday. The firm has a market cap of $58.52 billion, a P/E ratio of 5.55, a PEG ratio of 0.60 and a beta of 1.42. The stock’s 50-day moving average is $47.81 and its two-hundred day moving average is $46.19. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the prior year, the company posted $2.28 earnings per share. General Motors’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts predict that General Motors will post 10.05 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.92%. General Motors’s payout ratio is presently 5.12%.

Analyst Ratings Changes

GM has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday. Wedbush raised their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday. Sanford C. Bernstein upped their price target on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday. Nomura Securities raised General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.92.

Hedge Funds Weigh In On General Motors

A number of institutional investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors in the 2nd quarter worth $25,000. Wellington Shields Capital Management LLC bought a new stake in General Motors in the 2nd quarter valued at $28,000. Fortitude Family Office LLC raised its stake in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares in the last quarter. Montag A & Associates Inc. bought a new position in shares of General Motors during the 1st quarter worth about $30,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of General Motors during the 2nd quarter valued at about $33,000. 92.67% of the stock is currently 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.