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 General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total value of $502,671.07. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at $459,787.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

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

General Motors Stock Down 0.4 %

General Motors stock traded down $0.20 during midday trading on Thursday, hitting $52.72. The stock had a trading volume of 11,774,438 shares, compared to its average volume of 15,168,846. The business has a fifty day moving average price of $47.52 and a 200 day moving average price of $46.09. General Motors has a 12 month low of $26.30 and a 12 month high of $54.29. The stock has a market cap of $60.15 billion, a P/E ratio of 6.44, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly 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. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.28 EPS. Research analysts predict that General Motors will post 9.95 EPS for the current 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 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 dividend yield of 0.91%. General Motors’s dividend payout ratio (DPR) is 5.87%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Sanford C. Bernstein lowered General Motors from an “outperform” rating to a “market perform” rating and set a $53.00 price target for the company. in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group boosted their target price on General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, General Motors has a consensus rating of “Hold” and a consensus price target of $56.97.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. SJS Investment Consulting Inc. lifted its holdings in General Motors by 34.5% in the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after acquiring an additional 203 shares during the last quarter. Allworth Financial LP raised its position in shares of General Motors by 2.3% during the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after purchasing an additional 205 shares during the period. Fortitude Family Office LLC lifted its holdings 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 purchasing an additional 225 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in General Motors by 3.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after purchasing an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. grew its stake in General Motors by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after buying an additional 230 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

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.