General Motors (NYSE:GM) CEO Sells $27,028,923.92 in Stock

General Motors (NYSE:GM) (TSE:GMM.U) CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

General Motors Price Performance

GM opened at $52.07 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.21. The company has a market capitalization of $58.52 billion, a P/E ratio of 5.55, a PEG ratio of 0.60 and a beta of 1.42. General Motors has a 1-year low of $26.30 and a 1-year high of $54.29. The company has a 50-day moving average of $47.81 and a 200-day moving average of $46.19.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The firm had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.28 earnings per share. Equities analysts expect that General Motors will post 10.05 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend 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 5.12%.

Institutional Trading of General Motors

A number of large investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors in the second quarter worth about $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors during the 2nd quarter worth about $28,000. Fortitude Family Office LLC lifted its stake in shares of General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after acquiring an additional 225 shares during the period. Montag A & Associates Inc. bought a new position in shares of General Motors in the first quarter valued at approximately $30,000. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. Sanford C. Bernstein lifted their target price on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. Royal Bank of Canada boosted their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, UBS Group upped their price target on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $56.92.

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.