General Motors Company (GM) Insider Sells $8,911,782.96 in Stock
General Motors Company (NYSE:GM) (TSE:GMM.U) insider Alan S. Batey sold 234,274 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total value of $8,911,782.96. Following the completion of the sale, the insider now directly owns 67,548 shares of the company’s stock, valued at $2,569,525.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of General Motors Company (NYSE:GM) opened at 38.88 on Friday. The stock has a 50 day moving average price of $36.04 and a 200-day moving average price of $35.11. General Motors Company has a 52 week low of $30.21 and a 52 week high of $39.18. The firm has a market capitalization of $56.66 billion, a price-to-earnings ratio of 6.76 and a beta of 1.44.
General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, topping the 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 business had revenue of $36.98 billion during the quarter, compared to the consensus estimate of $37.67 billion. During the same period in the prior year, the company earned $1.86 EPS. General Motors’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts forecast that General Motors Company will post $6.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, September 7th. This represents a $1.52 annualized dividend and a dividend yield of 3.91%. General Motors’s dividend payout ratio is currently 26.48%.
Several hedge funds have recently made changes to their positions in the stock. W. E. Donoghue & Co. LLC bought a new stake in shares of General Motors during the 2nd quarter worth $16,341,000. Intl Fcstone Inc. bought a new stake in shares of General Motors during the 2nd quarter worth $259,000. Paradigm Financial Advisors LLC lifted its position in shares of General Motors by 11.3% during the 2nd quarter. Paradigm Financial Advisors LLC now owns 7,462 shares of the auto manufacturer’s stock worth $261,000 after buying an additional 755 shares during the last quarter. WFG Advisors LP lifted its position in shares of General Motors by 1,275.5% during the 2nd quarter. WFG Advisors LP now owns 11,884 shares of the auto manufacturer’s stock worth $415,000 after buying an additional 11,020 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of General Motors by 7.2% during the 2nd quarter. Cetera Investment Advisers now owns 17,425 shares of the auto manufacturer’s stock worth $602,000 after buying an additional 1,176 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.
Several research firms have recently weighed in on GM. Standpoint Research cut General Motors from a “buy” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies reissued a “buy” rating and issued a $44.00 price objective on shares of General Motors in a research report on Tuesday, September 12th. Buckingham Research reaffirmed a “neutral” rating and issued a $33.00 target price on shares of General Motors in a research report on Friday, September 8th. BidaskClub raised General Motors from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Finally, Vetr cut General Motors from a “buy” rating to a “hold” rating and set a $37.42 target price for the company. in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $38.97.
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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