General Motors Company (NYSE:GM) EVP Rory Harvey Sells 23,977 Shares

Key Points

• Rory Harvey, the EVP of General Motors, sold 23,977 shares for a total value of $1,271,020.77, resulting in a significant decrease of 73.80% in his position, now owning 8,513 shares valued at approximately $451,274.13.
• General Motors reported quarterly earnings of $2.53 EPS, exceeding expectations, with total revenue of $47.12 billion, although revenue was down 1.8% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.15 per share, representing an annualized dividend of $0.60 with a dividend yield of 1.1%, to be paid on September 18th.

General Motors Company (NYSE:GM - Get Free Report) TSE: GMM.U EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the transaction, the executive vice president owned 8,513 shares in the company, valued at approximately $451,274.13. The trade was a 73.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

General Motors Stock Up 0.9%

Shares of NYSE:GM traded up $0.46 on Thursday, hitting $52.93. 5,860,546 shares of the company's stock were exchanged, compared to its average volume of 12,131,829. The firm's 50-day moving average is $50.79 and its 200 day moving average is $48.83. The company has a market capitalization of $50.39 billion, a PE ratio of 8.40, a P/E/G ratio of 1.11 and a beta of 1.36. General Motors Company has a 1-year low of $41.09 and a 1-year high of $61.24. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The business's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.06 EPS. Sell-side analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's payout ratio is presently 9.52%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Royal Bank Of Canada reiterated an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. Piper Sandler restated a "neutral" rating and issued a $48.00 target price (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Bank of America reduced their target price on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Mizuho lifted their target price on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $57.53.

Institutional Trading of General Motors

Institutional investors and hedge funds have recently made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new stake in shares of General Motors in the 4th quarter valued at about $27,000. Trust Co. of Toledo NA OH purchased a new stake in shares of General Motors in the 2nd quarter valued at about $25,000. GFG Capital LLC purchased a new stake in shares of General Motors in the 2nd quarter valued at about $27,000. RMG Wealth Management LLC purchased a new stake in shares of General Motors in the 2nd quarter valued at about $32,000. Finally, Transce3nd LLC purchased a new stake in shares of General Motors in the 4th quarter valued at about $34,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

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.

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