General Motors (NYSE:GM) EVP Sells $502,671.07 in Stock

General Motors (NYSE:GM) (TSE:GMM.U) EVP Rory Harvey sold 9,307 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rory Harvey also recently made the following trade(s):

• On Friday, August 23rd, Rory Harvey sold 2,302 shares of General Motors stock. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62.
• On Monday, August 26th, Rory Harvey sold 12,795 shares of General Motors stock. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90.

General Motors Trading Down 1.2 %

NYSE GM opened at $52.07 on Friday. The company has a 50-day moving average of $47.81 and a 200-day moving average of $46.19. 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 has a 12 month low of $26.30 and a 12 month high of $54.29. The company has a market cap of $58.52 billion, a P/E ratio of 5.55, a P/E/G ratio of 0.60 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share 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 company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter last year, the firm posted $2.28 earnings per share. General Motors’s revenue was up 10.5% on a year-over-year basis. As a group, equities analysts predict that General Motors will post 10.05 earnings per share for the current year.

General Motors Announces Dividend

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

Institutional Investors Weigh In On General Motors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of General Motors during the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the second quarter valued at approximately $28,000. Fortitude Family Office LLC lifted its position in General Motors by 56.1% during the second 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. purchased a new stake in General Motors during the first quarter worth approximately $30,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of General Motors in the second quarter worth $33,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GM has been the subject of several research analyst reports. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. Barclays lifted their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday. Royal Bank of Canada increased their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Wolfe Research initiated coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Finally, Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective for the company. in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.92.

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.