General Motors (NYSE:GM) CEO Mary T. Barra Sells 506,824 Shares

General Motors (NYSE:GM) (TSE:GMM.U) CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

General Motors Stock Down 0.4 %

GM stock traded down $0.20 during trading on Thursday, reaching $52.72. The stock had a trading volume of 11,774,438 shares, compared to its average volume of 15,168,846. General Motors has a 1-year low of $26.30 and a 1-year 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 company has a market capitalization of $60.15 billion, a P/E ratio of 6.44, a PEG ratio of 0.56 and a beta of 1.42. The firm has a fifty day moving average price of $47.52 and a 200 day moving average price of $46.09.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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 for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.28 EPS. On average, equities analysts anticipate that General Motors will post 9.95 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is currently 5.87%.

Institutional Investors Weigh In On General Motors

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors during the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC bought a new stake in shares of General Motors during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC grew its position in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after buying an additional 225 shares during the last quarter. Montag A & Associates Inc. bought a new stake in shares of General Motors during the 1st quarter valued at about $30,000. Finally, EdgeRock Capital LLC bought a new stake in shares of General Motors during the 2nd quarter valued at about $33,000. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GM. Wells Fargo & Company raised their price objective on shares of General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday. Royal Bank of Canada lifted their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wedbush lifted their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group lifted their target price on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Finally, Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.97.

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.