General Motors (NYSE:GM) President Sells $6,745,130.28 in Stock

General Motors (NYSE:GM) (TSE:GMM.U) President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the transaction, the president now directly owns 126,907 shares in the company, valued at $7,000,190.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

General Motors Stock Up 0.3 %

General Motors stock opened at $55.58 on Friday. General Motors has a 1-year low of $26.30 and a 1-year high of $56.08. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The stock’s 50 day moving average price is $48.81 and its 200 day moving average price is $46.87. The company has a market cap of $61.12 billion, a PE ratio of 5.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating 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 business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter last year, the firm posted $2.28 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts predict that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Analysts Set New Price Targets

GM has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Nomura downgraded General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price objective on the stock. in a report on Monday, August 5th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein increased their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Finally, Wedbush increased their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.92.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GM. Strategic Investment Solutions Inc. IL purchased a new position in shares of General Motors during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors during the third quarter valued at $27,000. Wellington Shields Capital Management LLC purchased a new stake in General Motors during the 2nd quarter worth about $28,000. Fortitude Family Office LLC raised its stake in 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 purchasing an additional 225 shares during the last quarter. Finally, Montag A & Associates Inc. purchased a new position in General Motors in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.