Insider Selling: General Motors Company (GM) EVP Sells 192,954 Shares of Stock
General Motors Company (NYSE:GM) (TSE:GMM.U) EVP Craig B. Glidden sold 192,954 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $41.64, for a total value of $8,034,604.56. Following the transaction, the executive vice president now owns 214,171 shares of the company’s stock, valued at $8,918,080.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Shares of General Motors Company (GM) traded up 0.76% on Wednesday, hitting $43.78. The stock had a trading volume of 13,458,508 shares. The firm has a 50 day moving average price of $37.74 and a 200-day moving average price of $35.33. The company has a market cap of $63.80 billion, a price-to-earnings ratio of 7.61 and a beta of 1.45. General Motors Company has a 52 week low of $30.21 and a 52 week high of $43.94.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The firm had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. During the same quarter in the previous year, the company posted $1.86 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts anticipate that General Motors Company will post $6.13 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.52 annualized dividend and a yield of 3.47%. General Motors’s payout ratio is 26.48%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in General Motors by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock valued at $3,262,952,000 after purchasing an additional 3,560,717 shares during the last quarter. BlackRock Inc. raised its position in General Motors by 1.1% in the 2nd quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock valued at $2,750,849,000 after purchasing an additional 850,211 shares during the last quarter. State Street Corp raised its position in General Motors by 3.9% in the 1st quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock valued at $2,136,563,000 after purchasing an additional 2,252,866 shares during the last quarter. Berkshire Hathaway Inc. raised its position in General Motors by 20.0% in the 2nd quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock valued at $2,095,800,000 after purchasing an additional 10,000,000 shares during the last quarter. Finally, Capital World Investors raised its position in General Motors by 5.0% in the 2nd quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock valued at $1,094,259,000 after purchasing an additional 1,500,500 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.
Several equities analysts have recently commented on GM shares. Piper Jaffray Companies reiterated a “buy” rating and set a $44.00 target price on shares of General Motors in a research note on Tuesday, September 12th. Royal Bank Of Canada reiterated a “hold” rating and set a $37.00 target price on shares of General Motors in a research note on Friday, July 14th. Buckingham Research reiterated a “neutral” rating and set a $33.00 target price on shares of General Motors in a research note on Friday, September 8th. Zacks Investment Research upgraded General Motors from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Wednesday, June 21st. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $36.00 target price on shares of General Motors in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.41.
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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