Insider Selling: General Motors (NYSE:GM) EVP Sells 383,142 Shares of Stock

General Motors (NYSE:GM) (TSE:GMM.U) EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the sale, the executive vice president now owns 122,465 shares in the company, valued at $6,935,192.95. This represents a 75.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

General Motors Stock Down 0.4 %

General Motors stock traded down $0.23 during mid-day trading on Wednesday, reaching $54.88. The company’s stock had a trading volume of 12,182,821 shares, compared to its average volume of 14,884,377. The business’s 50 day simple moving average is $50.10 and its 200 day simple moving average is $47.48. General Motors has a 12 month low of $27.70 and a 12 month high of $59.39. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The company has a market capitalization of $60.35 billion, a price-to-earnings ratio of 5.88, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS 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 firm had revenue of $48.76 billion during the quarter, compared to analysts’ expectations of $44.67 billion. During the same period in the previous year, the business posted $2.28 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, research analysts anticipate that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently declared 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s payout ratio is 5.12%.

Hedge Funds Weigh In On General Motors

A number of large investors have recently modified their holdings of the company. SJS Investment Consulting Inc. increased its position in shares of General Motors by 34.5% during the 2nd quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock valued at $37,000 after purchasing an additional 203 shares during the last quarter. Allworth Financial LP increased its holdings in General Motors by 2.3% during the third quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after buying an additional 205 shares during the last quarter. Avestar Capital LLC lifted its stake in General Motors by 2.3% in the third quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after purchasing an additional 213 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock worth $131,000 after purchasing an additional 213 shares in the last quarter. Finally, Fortitude Family Office LLC raised its stake in shares of General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on GM. Barclays increased their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Friday, October 11th. Finally, Nomura Securities upgraded General Motors to a “strong sell” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors 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.