General Motors (NYSE:GM) EVP Sells $449,729.64 in Stock

Key Points

• GM EVP Rory Harvey sold shares worth about $449,730 on May 22, reducing his direct ownership by 4.29%. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• General Motors stock rose 5.3% to $84.00, trading above both its 50-day and 200-day moving averages. The company also has a market cap of about $75.74 billion and shares have ranged from $46.81 to $87.62 over the past year.
• GM reported strong quarterly earnings, with $3.70 EPS beating estimates of $2.61 and revenue of $43.62 billion slightly ahead of expectations. The company also has a $6 billion share buyback program and pays a quarterly dividend of $0.18 per share.

General Motors Company (NYSE:GM - Get Free Report) TSE: GMM.U EVP Rory Harvey sold 5,652 shares of General Motors stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $79.57, for a total value of $449,729.64. Following the sale, the executive vice president directly owned 126,013 shares in the company, valued at $10,026,854.41. The trade was a 4.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, May 27th, Rory Harvey sold 79,494 shares of General Motors stock. The shares were sold at an average price of $83.02, for a total value of $6,599,591.88.

General Motors Trading Up 5.3%

Shares of GM stock traded up $4.21 during mid-day trading on Wednesday, reaching $84.00. 10,365,970 shares of the stock traded hands, compared to its average volume of 7,794,064. The stock's fifty day simple moving average is $76.30 and its two-hundred day simple moving average is $77.83. General Motors Company has a 1-year low of $46.81 and a 1-year high of $87.62. The company has a market cap of $75.74 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 0.40 and a beta of 1.29. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.41.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, April 28th. The auto manufacturer reported $3.70 EPS for the quarter, beating analysts' consensus estimates of $2.61 by $1.09. General Motors had a return on equity of 16.68% and a net margin of 1.38%.The firm had revenue of $43.62 billion for the quarter, compared to analyst estimates of $43.51 billion. During the same period last year, the firm posted $2.78 earnings per share. The business's revenue for the quarter was down .9% on a year-over-year basis. General Motors has set its FY 2026 guidance at 10.620-12.620 EPS. On average, research analysts anticipate that General Motors Company will post 12.85 EPS for the current fiscal year.

General Motors declared that its Board of Directors has initiated a share buyback program on Tuesday, January 27th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, June 5th. General Motors's dividend payout ratio (DPR) is 29.03%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GM shares. TD Cowen raised their price objective on General Motors from $122.00 to $126.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Jefferies Financial Group raised their price objective on General Motors from $85.00 to $97.00 and gave the stock a "hold" rating in a research report on Monday, February 2nd. Benchmark lifted their target price on General Motors from $65.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. UBS Group lifted their target price on General Motors from $102.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, April 14th. Finally, Mizuho lowered their target price on General Motors from $105.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $94.65.

Institutional Investors Weigh In On General Motors

A number of hedge funds have recently added to or reduced their stakes in the business. Groupama Asset Managment increased its holdings in General Motors by 22.5% in the first quarter. Groupama Asset Managment now owns 9,548 shares of the auto manufacturer's stock worth $711,000 after purchasing an additional 1,755 shares in the last quarter. Essential Partners LLC increased its holdings in General Motors by 1.0% in the first quarter. Essential Partners LLC now owns 43,346 shares of the auto manufacturer's stock worth $3,229,000 after purchasing an additional 441 shares in the last quarter. Groupe la Francaise increased its holdings in General Motors by 20.4% in the first quarter. Groupe la Francaise now owns 334,381 shares of the auto manufacturer's stock worth $24,822,000 after purchasing an additional 56,758 shares in the last quarter. Western Wealth Management LLC increased its holdings in shares of General Motors by 8.1% during the first quarter. Western Wealth Management LLC now owns 2,856 shares of the auto manufacturer's stock valued at $213,000 after acquiring an additional 213 shares in the last quarter. Finally, Ariadne Wealth Management LP increased its holdings in shares of General Motors by 7.9% during the first quarter. Ariadne Wealth Management LP now owns 11,861 shares of the auto manufacturer's stock valued at $884,000 after acquiring an additional 870 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Company Profile

General Motors Company NYSE: GM is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world's largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM's operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.

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