Insider Selling: General Motors (NYSE:GM) EVP Sells 4,459 Shares of Stock

Key Points

• Rory Harvey, EVP of General Motors, sold 4,459 shares on September 12 at an average price of $59.95, totaling over $267,000, which reduced their ownership by 34.37%.
• General Motors announced a quarterly dividend of $0.15 per share, to be paid on September 18, representing an annualized yield of 1.0%.
• Barclays upgraded General Motors to an "overweight" rating with a new price target of $73.00, indicating positive market sentiment regarding the company's performance.

General Motors Company (NYSE:GM - Get Free Report) TSE: GMM.U EVP Rory Harvey sold 4,459 shares of General Motors stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $59.95, for a total value of $267,317.05. Following the completion of the transaction, the executive vice president directly owned 8,513 shares in the company, valued at $510,354.35. This trade represents a 34.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, August 5th, Rory Harvey sold 23,977 shares of General Motors stock. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77.

General Motors Trading Down 0.8%

Shares of GM traded down $0.47 during mid-day trading on Tuesday, hitting $58.48. 6,779,818 shares of the company's stock traded hands, compared to its average volume of 11,281,491. 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 Company has a 1 year low of $41.60 and a 1 year high of $61.24. The firm has a market capitalization of $55.68 billion, a P/E ratio of 9.28, a PEG ratio of 1.23 and a beta of 1.32. The business's 50-day moving average price is $55.23 and its 200-day moving average price is $50.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The firm had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same period in the previous year, the firm earned $3.06 earnings per share. The business's revenue was down 1.8% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, sell-side analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. General Motors's payout ratio is 9.52%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays upgraded General Motors from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $55.00 to $73.00 in a research report on Friday. Piper Sandler restated a "neutral" rating and set a $48.00 price target (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Bank of America dropped their price target 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. Royal Bank Of Canada restated an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. Finally, Benchmark assumed coverage on General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.00.

Institutional Investors Weigh In On General Motors

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in General Motors by 11.5% in the second quarter. Vanguard Group Inc. now owns 110,759,703 shares of the auto manufacturer's stock worth $5,450,485,000 after acquiring an additional 11,418,367 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in General Motors by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock worth $676,322,000 after acquiring an additional 316,196 shares in the last quarter. Invesco Ltd. boosted its holdings in General Motors by 4.5% in the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock worth $646,482,000 after acquiring an additional 594,217 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock valued at $629,196,000 after purchasing an additional 8,012,743 shares in the last quarter. Finally, Viking Global Investors LP lifted its holdings in shares of General Motors by 81.1% during the second quarter. Viking Global Investors LP now owns 13,018,874 shares of the auto manufacturer's stock valued at $640,659,000 after purchasing an additional 5,830,050 shares in the last quarter. 92.67% of the stock is owned by 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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