Insider Selling: General Motors (NYSE:GM) EVP Sells $627,210.90 in Stock

General Motors (NYSE:GM) (TSE:GMM.U) EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, August 23rd, Rory Harvey sold 2,302 shares of General Motors stock. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62.

General Motors Stock Up 0.9 %

General Motors stock opened at $49.49 on Friday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50. The firm has a market capitalization of $56.47 billion, a PE ratio of 6.05, a P/E/G ratio of 0.44 and a beta of 1.43. The company’s 50-day moving average is $46.01 and its 200-day moving average is $44.30. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that General Motors will post 9.94 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.97%. General Motors’s dividend payout ratio (DPR) is 5.87%.

General Motors declared that its Board of Directors has authorized a stock buyback plan on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of General Motors

A number of hedge funds have recently modified their holdings of GM. LifeSteps Financial Inc. acquired a new stake in General Motors during the first quarter worth approximately $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the second quarter worth approximately $28,000. Fortitude Family Office LLC lifted its holdings in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the last quarter. Cape Investment Advisory Inc. boosted its stake in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after purchasing an additional 359 shares during the period. Finally, Montag A & Associates Inc. bought a new position in General Motors during the 1st quarter worth $30,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Wedbush reiterated an “outperform” rating and issued a $55.00 price target on shares of General Motors in a report on Wednesday, July 24th. Finally, Morgan Stanley lowered shares of General Motors from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $46.00 to $47.00 in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.17.

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.