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

General Motors (NYSE:GM) (TSE:GMM.U) CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

General Motors Stock Down 0.4 %

Shares of NYSE:GM opened at $52.70 on Friday. The company has a 50 day moving average of $47.52 and a two-hundred day moving average of $46.09. General Motors has a 52-week low of $26.30 and a 52-week high of $54.29. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $60.13 billion, a price-to-earnings ratio of 6.44, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.28 EPS. As a group, analysts forecast that General Motors will post 9.95 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.87%.

Institutional Investors Weigh In On General Motors

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors in the 2nd quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new position in shares of General Motors during the second quarter worth about $28,000. Fortitude Family Office LLC increased its holdings 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 worth $29,000 after acquiring an additional 225 shares during the period. Montag A & Associates Inc. bought a new stake in General Motors in the 1st quarter valued at about $30,000. Finally, EdgeRock Capital LLC acquired a new position in General Motors during the 2nd quarter valued at about $33,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent analyst reports. Barclays upped their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group raised their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday. Nomura lowered shares of 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. Wolfe Research started coverage on shares of General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, The Goldman Sachs Group increased their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Motors presently has an average rating of “Hold” and an average target price of $56.97.

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.