Insider Selling: General Motors (NYSE:GM) President Sells 26,869 Shares of Stock

Key Points

• General Motors President Mark Reuss sold 26,869 shares of GM stock for a total value of approximately $1.61 million, reducing his ownership by 11.80%.
• The company's recent earnings report showed $2.53 per share, slightly exceeding expectations, despite a 1.8% year-over-year revenue decline.
• General Motors announced a quarterly dividend of $0.15 per share, resulting in a 1.0% dividend yield for shareholders.

General Motors Company (NYSE:GM - Get Free Report) TSE: GMM.U President Mark Reuss sold 26,869 shares of the stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $60.03, for a total value of $1,612,946.07. Following the completion of the sale, the president directly owned 200,912 shares of the company's stock, valued at $12,060,747.36. The trade was a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

General Motors Stock Performance

Shares of GM traded up $0.65 during mid-day trading on Friday, hitting $61.24. The stock had a trading volume of 8,638,768 shares, compared to its average volume of 11,149,649. The company's fifty day simple moving average is $56.22 and its two-hundred day simple moving average is $51.03. 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 $58.31 billion, a PE ratio of 9.72, a PEG ratio of 1.26 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 $61.98.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share 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 the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, equities analysts expect that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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

Institutional Trading of General Motors

A number of institutional investors have recently made changes to their positions in the business. Sowell Financial Services LLC grew its position in shares of General Motors by 2.9% in the second quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer's stock valued at $336,000 after purchasing an additional 195 shares in 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 raised its stake in General Motors by 3.6% during the second quarter. Certuity LLC now owns 6,043 shares of the auto manufacturer's stock worth $297,000 after acquiring an additional 209 shares during the period. ICONIQ Capital LLC boosted its stake in shares of General Motors by 4.2% during 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 period. Finally, Hohimer Wealth Management LLC increased its holdings in shares of General Motors by 0.3% during the 1st quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock worth $3,310,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GM. Bank of America reduced their price objective on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Royal Bank Of Canada reissued an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. UBS Group upgraded shares of General Motors from a "neutral" rating to a "buy" rating and boosted their target price for the company from $56.00 to $81.00 in a report on Wednesday. Wedbush increased their price target on shares of General Motors from $55.00 to $65.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 19th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of General Motors in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.53.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.