Rory Harvey Sells 9,307 Shares of General Motors (NYSE:GM) Stock

General Motors (NYSE:GM) (TSE:GMM.U) EVP Rory Harvey sold 9,307 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total value of $502,671.07. Following the sale, the executive vice president now directly owns 8,513 shares in the company, valued at $459,787.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, August 23rd, Rory Harvey sold 2,302 shares of General Motors stock. The shares were sold at an average price of $47.31, for a total value of $108,907.62.
• On Monday, August 26th, Rory Harvey sold 12,795 shares of General Motors stock. The shares were sold at an average price of $49.02, for a total value of $627,210.90.

General Motors Trading Down 1.2 %

NYSE GM opened at $52.07 on Friday. General Motors has a 12 month low of $26.30 and a 12 month high of $54.29. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $59.41 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The business’s 50-day moving average price is $47.68 and its two-hundred day moving average price is $46.13.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. During the same quarter in the prior year, the firm posted $2.28 EPS. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, analysts expect that General Motors will post 9.95 EPS for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.92%. General Motors’s payout ratio is currently 5.87%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors increased its holdings in General Motors by 14.6% in the first quarter. Capital World Investors now owns 48,767,573 shares of the auto manufacturer’s stock worth $2,211,609,000 after purchasing an additional 6,201,777 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of General Motors by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,951,561 shares of the auto manufacturer’s stock valued at $601,730,000 after acquiring an additional 135,717 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of General Motors by 9.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after acquiring an additional 1,091,137 shares during the period. LSV Asset Management boosted its stake in General Motors by 2.6% during the second quarter. LSV Asset Management now owns 8,847,440 shares of the auto manufacturer’s stock worth $411,052,000 after acquiring an additional 223,260 shares in the last quarter. Finally, ACR Alpine Capital Research LLC grew its holdings in General Motors by 8.4% in the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock worth $287,408,000 after purchasing an additional 492,693 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on GM. Barclays raised their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank of Canada boosted their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a research note on Monday, August 5th. Finally, The Goldman Sachs Group upped their price objective on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.92.

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.