General Motors Company (GM) Insider Alan S. Batey Sells 234,274 Shares
General Motors Company (NYSE:GM) (TSE:GMM.U) insider Alan S. Batey sold 234,274 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total transaction of $8,911,782.96. Following the transaction, the insider now owns 67,548 shares of the company’s stock, valued at $2,569,525.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of General Motors Company (NYSE GM) traded up 1.60% during mid-day trading on Thursday, reaching $38.82. 17,528,616 shares of the company’s stock were exchanged. The stock has a market cap of $56.57 billion, a PE ratio of 6.75 and a beta of 1.44. The company has a 50 day moving average price of $35.95 and a 200-day moving average price of $35.09. General Motors Company has a one year low of $30.21 and a one year high of $39.18.
General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. During the same quarter in the previous year, the company earned $1.86 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, analysts predict that General Motors Company will post $6.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, September 7th. General Motors’s payout ratio is 26.48%.
Several hedge funds have recently added to or reduced their stakes in the business. W. E. Donoghue & Co. LLC purchased a new position in shares of General Motors in the second quarter valued at about $16,341,000. Intl Fcstone Inc. purchased a new position in shares of General Motors in the second quarter valued at about $259,000. Paradigm Financial Advisors LLC increased its position in shares of General Motors by 11.3% in the second quarter. Paradigm Financial Advisors LLC now owns 7,462 shares of the auto manufacturer’s stock valued at $261,000 after acquiring an additional 755 shares during the period. WFG Advisors LP increased its position in shares of General Motors by 1,275.5% in the second quarter. WFG Advisors LP now owns 11,884 shares of the auto manufacturer’s stock valued at $415,000 after acquiring an additional 11,020 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of General Motors by 7.2% in the second quarter. Cetera Investment Advisers now owns 17,425 shares of the auto manufacturer’s stock valued at $602,000 after acquiring an additional 1,176 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.
Several research analysts have commented on the stock. Standpoint Research downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies reiterated a “buy” rating and set a $44.00 price target on shares of General Motors in a report on Tuesday. Buckingham Research reiterated a “neutral” rating and set a $33.00 price target on shares of General Motors in a report on Friday, September 8th. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Berenberg Bank set a $31.00 price target on shares of General Motors and gave the stock a “sell” rating in a report on Monday, August 14th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $38.97.
General Motors Company Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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