Christopher Hatto Sells 36,804 Shares of General Motors Company (NYSE:GM) Stock

Key Points

• Christopher Hatto, General Motors' CAO, sold 36,804 shares at an average price of $55.10, reducing his stake by 75.40% to 12,007 shares valued at approximately $661,585.70.
• General Motors recently declared a quarterly dividend of $0.15 per share, which will be paid to shareholders on September 18th, representing an annualized yield of 1.1%.
• Analysts project a consensus earnings per share of 11.44 for the current fiscal year, with various brokerages adjusting their price targets for GM stock to an average of $57.53.

General Motors Company (NYSE:GM - Get Free Report) TSE: GMM.U CAO Christopher Hatto sold 36,804 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total value of $2,027,900.40. Following the sale, the chief accounting officer owned 12,007 shares in the company, valued at approximately $661,585.70. The trade was a 75.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

General Motors Price Performance

NYSE:GM traded down $0.11 during trading hours on Friday, hitting $56.31. 5,594,331 shares of the company's stock traded hands, compared to its average volume of 11,900,611. The firm has a market cap of $53.61 billion, a P/E ratio of 8.94, a P/E/G ratio of 1.18 and a beta of 1.36. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24. The business's fifty day simple moving average is $51.52 and its two-hundred day simple moving average is $48.87. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The business had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. During the same quarter last year, the business posted $3.06 earnings per share. The company's revenue for the quarter was down 1.8% on a year-over-year basis. On average, research analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. General Motors's dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GM. Mizuho increased their price target on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. UBS Group increased their price objective on General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Piper Sandler reissued a "neutral" rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. JPMorgan Chase & Co. increased their price objective on General Motors from $56.00 to $60.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, CLSA raised General Motors to a "moderate buy" rating in a research note on Monday, July 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $57.53.

Institutional Investors Weigh In On General Motors

Large investors have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of General Motors by 456.1% in the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock worth $2,062,000 after buying an additional 31,755 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of General Motors by 5.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 119,754 shares of the auto manufacturer's stock worth $6,372,000 after buying an additional 6,558 shares during the period. CreativeOne Wealth LLC increased its holdings in shares of General Motors by 46.8% in the fourth quarter. CreativeOne Wealth LLC now owns 12,735 shares of the auto manufacturer's stock worth $678,000 after buying an additional 4,062 shares during the period. Evergreen Capital Management LLC increased its holdings in shares of General Motors by 4.2% in the fourth quarter. Evergreen Capital Management LLC now owns 12,296 shares of the auto manufacturer's stock worth $655,000 after buying an additional 493 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in shares of General Motors by 202.6% in the fourth quarter. NewEdge Advisors LLC now owns 63,783 shares of the auto manufacturer's stock worth $3,398,000 after buying an additional 42,707 shares during the period. Hedge funds and other institutional investors 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.

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