Insider Buying: General Motors Company (GM) Director Acquires $50,198.40 in Stock
General Motors Company (NYSE:GM) (TSE:GMM.U) Director Jane L. Mendillo bought 1,440 shares of General Motors stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $34.86 per share, for a total transaction of $50,198.40. Following the purchase, the director now owns 4,560 shares of the company’s stock, valued at $158,961.60. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
General Motors Company (NYSE:GM) traded up 0.82% during midday trading on Friday, reaching $35.81. The company’s stock had a trading volume of 1,344,577 shares. The firm has a market capitalization of $52.18 billion, a PE ratio of 6.23 and a beta of 1.45. General Motors Company has a 1-year low of $30.13 and a 1-year high of $38.55. The stock’s 50-day moving average price is $35.49 and its 200 day moving average price is $35.05.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.17. The business had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. General Motors had a return on equity of 22.45% and a net margin of 5.38%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $1.86 earnings per share. Equities analysts anticipate that General Motors Company will post $6.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a $0.38 dividend. The ex-dividend date is Thursday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.28%. General Motors’s dividend payout ratio (DPR) is 26.48%.
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A number of analysts have weighed in on GM shares. Nomura reiterated a “buy” rating and issued a $47.00 target price on shares of General Motors in a research note on Tuesday, May 2nd. BidaskClub upgraded General Motors from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada reiterated a “hold” rating and issued a $37.00 target price on shares of General Motors in a research note on Friday, July 14th. ValuEngine raised General Motors from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of General Motors in a research report on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. General Motors presently has a consensus rating of “Buy” and a consensus target price of $39.26.
A number of institutional investors have recently bought and sold shares of GM. Macquarie Group Ltd. increased its position in General Motors by 92.5% in the fourth quarter. Macquarie Group Ltd. now owns 76,600 shares of the auto manufacturer’s stock worth $2,669,000 after buying an additional 36,800 shares during the period. State of Alaska Department of Revenue purchased a new position in General Motors during the first quarter worth approximately $103,000. Retirement Systems of Alabama increased its position in General Motors by 54.2% in the first quarter. Retirement Systems of Alabama now owns 1,440,222 shares of the auto manufacturer’s stock worth $50,926,000 after buying an additional 506,023 shares during the period. V Wealth Management LLC purchased a new position in General Motors during the first quarter worth approximately $330,000. Finally, Candriam Luxembourg S.C.A. increased its position in General Motors by 182.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 190,770 shares of the auto manufacturer’s stock worth $6,746,000 after buying an additional 123,285 shares during the period. Institutional investors and hedge funds own 75.56% of the company’s stock.
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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