General Motors (GM) Insider Sells $2,173,084.44 in Stock
General Motors (NYSE:GM) (TSE:GMM.U) insider Barry L. Engle II sold 50,443 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $43.08, for a total value of $2,173,084.44. Following the transaction, the insider now owns 57,091 shares of the company’s stock, valued at approximately $2,459,480.28. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of General Motors (NYSE:GM) traded down $0.65 during trading hours on Wednesday, reaching $42.15. 12,868,056 shares of the company were exchanged, compared to its average volume of 13,472,131. The company has a market capitalization of $61,148.57, a PE ratio of 6.95, a price-to-earnings-growth ratio of 0.75 and a beta of 1.54. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.94 and a quick ratio of 0.79. General Motors has a fifty-two week low of $31.92 and a fifty-two week high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 24th. The auto manufacturer reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.25. The business had revenue of $30.48 billion for the quarter, compared to analysts’ expectations of $29.93 billion. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same period last year, the firm posted $1.72 earnings per share. sell-side analysts predict that General Motors will post 6.24 EPS for the current fiscal year.
A number of equities analysts have recently commented on GM shares. Deutsche Bank restated a “buy” rating on shares of General Motors in a research note on Friday, November 17th. Piper Jaffray Companies restated a “buy” rating and set a $44.00 price objective on shares of General Motors in a research note on Tuesday, September 12th. Goldman Sachs Group downgraded shares of General Motors from a “neutral” rating to a “sell” rating and cut their target price for the company from $43.16 to $32.00 in a research note on Monday, October 30th. Royal Bank Of Canada raised their target price on shares of General Motors from $44.00 to $51.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 25th. Finally, Barclays upgraded shares of General Motors from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $41.00 to $55.00 in a research note on Friday, October 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $43.70.
A number of institutional investors have recently modified their holdings of the business. Berkshire Hathaway Inc. lifted its holdings in shares of General Motors by 20.0% during the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after purchasing an additional 10,000,000 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of General Motors by 290.9% during the second quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock worth $357,944,000 after purchasing an additional 7,625,809 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of General Motors during the third quarter worth $202,352,000. Vanguard Group Inc. lifted its holdings in shares of General Motors by 4.0% during the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock worth $3,262,952,000 after purchasing an additional 3,560,717 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of General Motors by 72.9% during the second quarter. Parametric Portfolio Associates LLC now owns 4,210,479 shares of the auto manufacturer’s stock worth $147,072,000 after purchasing an additional 1,775,924 shares during the period. Hedge funds and other institutional investors own 73.06% of the company’s stock.
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About General Motors
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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