Insider Selling: General Motors (NYSE:GM) EVP Sells 9,307 Shares of Stock

General Motors (NYSE:GM) (TSE:GMM.U) EVP Rory Harvey sold 9,307 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was 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 approximately $459,787.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 value 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 value of $627,210.90.

General Motors Stock Down 0.4 %

Shares of NYSE GM traded down $0.20 during mid-day trading on Thursday, reaching $52.72. The company had a trading volume of 11,774,438 shares, compared to its average volume of 15,168,846. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.99 and a current ratio of 1.18. The company has a market capitalization of $60.15 billion, a price-to-earnings ratio of 6.44, a PEG ratio of 0.56 and a beta of 1.42. The stock has a fifty day moving average of $47.52 and a two-hundred day moving average of $46.09. General Motors has a 12-month low of $26.30 and a 12-month high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its 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 6.22% and a return on equity of 15.77%. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the business posted $2.28 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities research analysts expect that General Motors will post 9.95 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GM shares. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada raised their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.97.

Hedge Funds Weigh In On General Motors

A number of hedge funds have recently added to or reduced their stakes in GM. Capital World Investors increased its position in General Motors by 14.6% during the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after buying an additional 6,201,777 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of General Motors by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock worth $601,730,000 after purchasing an additional 135,717 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock worth $600,291,000 after purchasing an additional 1,091,137 shares during the last quarter. LSV Asset Management boosted its stake in General Motors by 2.6% during the 2nd quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock valued at $411,052,000 after purchasing an additional 223,260 shares during the period. Finally, ACR Alpine Capital Research LLC grew its holdings in General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after buying an additional 492,693 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

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.