General Motors (NYSE:GM) EVP Rory Harvey Sells 16,513 Shares of Company Stock

General Motors Company (NYSE:GM) (TSE:GMM.U) EVP Rory Harvey sold 16,513 shares of General Motors stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $89.64, for a total value of $1,480,225.32. Following the sale, the executive vice president directly owned 12,000 shares of the company’s stock, valued at approximately $1,075,680. This trade represents a 57.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

General Motors Trading Down 3.5%

Shares of GM opened at $86.24 on Friday. The business’s fifty day moving average is $83.35 and its 200-day moving average is $80.83. General Motors Company has a 52-week low of $67.06 and a 52-week high of $93.70. The firm has a market cap of $72.75 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.51 and a beta of 1.40. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.94 and a current ratio of 1.09.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 20th. The auto manufacturer reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.01. The company had revenue of $50.02 billion for the quarter, compared to the consensus estimate of $48.78 billion. General Motors had a return on equity of 19.36% and a net margin of 2.12%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.80 earnings per share. Equities analysts anticipate that General Motors Company will post 13.37 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, December 4th. General Motors’s dividend payout ratio is currently 16.51%.

General Motors declared that its board has initiated a share buyback program on Tuesday, October 20th that allows the company to buy back $20 billion in shares. This repurchase authorization allows the auto manufacturer to reacquire up to 27.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Key Headlines Impacting General Motors

Here are the key news stories impacting General Motors this week:

• Positive Sentiment: Higher long-term earnings forecasts: Zacks Research raised its estimates for GM’s 2027 and 2028 earnings, including its FY2028 EPS forecast to $15.10 from $12.70. Zacks Research earnings forecast
• Positive Sentiment: Domestic battery-materials exposure: GM holds a 38% stake in Nevada’s Thacker Pass lithium project, which could support its longer-term EV battery supply chain. GM’s Thacker Pass stake
• Neutral Sentiment: Executive share sale: EVP Rory Harvey sold 16,513 shares under a pre-arranged Rule 10b5-1 plan, reducing his direct holding by 57.9%. The planned nature of the transaction makes it a less clear signal about his outlook. SEC filing
• Negative Sentiment: EV braking recall: GM is recalling about 67,000 Chevrolet and Cadillac EVs over a software issue that could cause loss of braking. An over-the-air fix may limit repair costs, but the safety risk and added scrutiny are concerns. EV braking recall
• Negative Sentiment: Further recall and legal overhangs: Reports describe additional recalls affecting more than 80,000 vehicles, while GM recently agreed to a $220 million settlement with 36 states over allegations involving driver-data practices. Additional vehicle recalls Driver-data settlement
• Negative Sentiment: Costs and product uncertainty: Automakers face higher material, logistics, and memory costs as pricing power weakens. Separately, a report says GM has dropped a planned electric Corvette SUV, raising questions about its EV product strategy. Automaker cost pressures Electric Corvette SUV report

Institutional Trading of General Motors

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new position in General Motors in the second quarter valued at about $599,066,000. Junto Capital Management LP boosted its position in General Motors by 33.9% during the second quarter. Junto Capital Management LP now owns 976,798 shares of the auto manufacturer’s stock worth $75,292,000 after purchasing an additional 247,302 shares during the period. NEOS Investment Management LLC grew its holdings in shares of General Motors by 8.8% in the second quarter. NEOS Investment Management LLC now owns 146,561 shares of the auto manufacturer’s stock worth $11,297,000 after purchasing an additional 11,901 shares during the last quarter. Engineers Gate Manager LP grew its holdings in shares of General Motors by 18.6% in the second quarter. Engineers Gate Manager LP now owns 1,290,019 shares of the auto manufacturer’s stock worth $99,435,000 after acquiring an additional 202,057 shares during the period. Finally, Bank of Nova Scotia bought a new stake in General Motors during the 2nd quarter valued at about $63,428,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $98.00 price target on General Motors in a research note on Wednesday, October 21st. Benchmark reiterated a “buy” rating and issued a $105.00 price target (up from $90.00) on shares of General Motors in a research report on Tuesday, July 21st. Tigress Financial boosted their price target on General Motors from $130.00 to $132.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 28th. Truist Financial set a $105.00 price objective on shares of General Motors in a research report on Wednesday, October 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of General Motors from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

About General Motors

General Motors Company designs, manufactures and sells cars, trucks, crossovers and sport utility vehicles. Its vehicle brands include Chevrolet, Buick, GMC and Cadillac, and its offerings also include vehicle parts, software and related services. GM Financial provides automotive financing and leasing products to customers and dealers.

Founded in 1908, General Motors is headquartered in Detroit, Michigan. The company serves customers in North America and international markets, with operations and sales spanning multiple regions.

Mary Barra has served as GM’s chief executive officer since 2014.