General Motors (NYSE:GM) President Sells $6,745,130.28 in Stock

General Motors (NYSE:GM) (TSE:GMM.U) President Mark L. Reuss sold 122,283 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the sale, the president now directly owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

General Motors Stock Up 0.3 %

GM stock traded up $0.19 during midday trading on Friday, hitting $55.58. The stock had a trading volume of 10,223,762 shares, compared to its average volume of 14,967,976. General Motors has a 52-week low of $26.30 and a 52-week high of $56.08. The firm has a market cap of $61.12 billion, a price-to-earnings ratio of 5.91, a price-to-earnings-growth ratio of 0.39 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The business has a 50-day moving average of $48.58 and a two-hundred day moving average of $46.72.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion for the quarter, compared to analysts’ expectations of $44.67 billion. During the same quarter in the prior year, the company earned $2.28 earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts forecast that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Institutional Trading of General Motors

Institutional investors have recently made changes to their positions in the stock. Capital World Investors grew its position in shares of General Motors by 14.6% during 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. Swedbank AB purchased a new position in General Motors during the 1st quarter valued at approximately $159,750,000. Artemis Investment Management LLP grew its holdings in shares of General Motors by 581.4% in the third quarter. Artemis Investment Management LLP now owns 1,601,856 shares of the auto manufacturer’s stock valued at $71,827,000 after purchasing an additional 1,366,768 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in General Motors by 9.2% during the second quarter. Dimensional Fund Advisors LP now owns 12,922,021 shares of the auto manufacturer’s stock valued at $600,291,000 after purchasing an additional 1,091,137 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in General Motors by 3,333.1% during the second quarter. Panagora Asset Management Inc. now owns 783,340 shares of the auto manufacturer’s stock valued at $36,394,000 after purchasing an additional 760,523 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GM shares. Wedbush upped their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research report on Tuesday, September 10th. Morgan Stanley cut shares of General Motors from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $47.00 to $42.00 in a report on Wednesday, September 25th. Finally, Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Motors presently has a consensus 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.