Insider Selling: General Motors (NYSE:GM) CAO Sells 23,400 Shares of Stock

Key Points

• General Motors CAO Christopher Hatto sold 23,400 shares of company stock on September 26 for a total of $1,427,634, reducing his holdings by 66.09% to 12,007 shares.
• The company has declared a quarterly dividend of $0.15, contributing to an annual yield of 1.0% with a payout ratio of 9.52%.
• Analysts have increased price targets for General Motors, with estimates now ranging from $67.00 to $81.00, signaling bullish sentiment towards the stock.

General Motors Company (NYSE:GM - Get Free Report) TSE: GMM.U CAO Christopher Hatto sold 23,400 shares of the company's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $61.01, for a total value of $1,427,634.00. Following the sale, the chief accounting officer owned 12,007 shares of the company's stock, valued at approximately $732,547.07. This trade represents a 66.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Christopher Hatto also recently made the following trade(s):

• On Wednesday, August 27th, Christopher Hatto sold 14,667 shares of General Motors stock. The stock was sold at an average price of $59.00, for a total value of $865,353.00.
• On Wednesday, August 13th, Christopher Hatto sold 36,804 shares of General Motors stock. The stock was sold at an average price of $55.10, for a total value of $2,027,900.40.

General Motors Stock Performance

General Motors stock traded down $0.20 during trading hours on Tuesday, hitting $60.92. The stock had a trading volume of 6,963,493 shares, compared to its average volume of 11,119,932. The company has a 50-day moving average of $56.54 and a two-hundred day moving average of $51.26. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The company has a market cap of $58.00 billion, a PE ratio of 9.67, a price-to-earnings-growth ratio of 1.29 and a beta of 1.32. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $62.14.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating the consensus estimate of $2.52 by $0.01. The firm 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 company's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, equities research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.60 annualized dividend and a yield of 1.0%. General Motors's dividend payout ratio is 9.52%.

Analyst Ratings Changes

Several research firms have commented on GM. JPMorgan Chase & Co. upped their price target on General Motors from $60.00 to $80.00 and gave the company an "overweight" rating in a report on Tuesday. Mizuho increased their target price on General Motors from $58.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, September 23rd. The Goldman Sachs Group increased their target price on General Motors from $70.00 to $74.00 and gave the stock a "buy" rating in a report on Monday. Citigroup increased their target price on General Motors from $61.00 to $75.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. Finally, UBS Group raised General Motors from a "neutral" rating to a "buy" rating and increased their target price for the stock from $56.00 to $81.00 in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, General Motors currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.16.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Sowell Financial Services LLC boosted its position in General Motors by 2.9% in the 2nd quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer's stock valued at $336,000 after buying an additional 195 shares during the last quarter. Mayflower Financial Advisors LLC boosted its position in General Motors by 4.1% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 5,163 shares of the auto manufacturer's stock valued at $254,000 after buying an additional 205 shares during the last quarter. Certuity LLC boosted its position in General Motors by 3.6% in the 2nd quarter. Certuity LLC now owns 6,043 shares of the auto manufacturer's stock valued at $297,000 after buying an additional 209 shares during the last quarter. ICONIQ Capital LLC boosted its position in General Motors by 4.2% in the 1st quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer's stock valued at $256,000 after buying an additional 220 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its position in General Motors by 0.3% in the 1st quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock valued at $3,310,000 after buying an additional 230 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

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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