Investors Sell Shares of General Motors Company (GM) on Strength Following Insider Selling
Investors sold shares of General Motors Company (NYSE:GM) (TSE:GMM.U) on strength during trading on Thursday after an insider sold shares in the company. $71.26 million flowed into the stock on the tick-up and $105.74 million flowed out of the stock on the tick-down, for a money net flow of $34.48 million out of the stock. Of all equities tracked, General Motors had the 0th highest net out-flow for the day. General Motors traded up $0.07 for the day and closed at $43.85Specifically, insider Alicia S. Boler-Davis sold 10,000 shares of General Motors stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $40.90, for a total transaction of $409,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas S. Timko sold 17,255 shares of General Motors stock in a transaction on Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the transaction, the vice president now directly owns 26,100 shares in the company, valued at $934,119. The disclosure for this sale can be found here. Insiders have sold a total of 842,901 shares of company stock worth $31,928,733 over the last ninety days. Insiders own 0.04% of the company’s stock.
A number of equities analysts recently weighed in on GM shares. Royal Bank Of Canada boosted their price target on shares of General Motors from $38.00 to $44.00 and gave the stock a “sector perform” rating in a report on Thursday. Morgan Stanley reissued an “overweight” rating and issued a $43.00 price target on shares of General Motors in a report on Wednesday. Instinet reissued a “buy” rating and issued a $43.00 price target on shares of General Motors in a report on Tuesday. Bank of America Corporation raised shares of General Motors from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $57.00 in a report on Tuesday. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $51.00 price target on shares of General Motors in a report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have given a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.35.
The company has a market capitalization of $65.47 billion, a PE ratio of 7.81 and a beta of 1.45. The firm’s 50 day moving average price is $38.49 and its 200-day moving average price is $35.52.
General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.17. The firm had revenue of $36.98 billion for 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 quarter in the previous year, the company posted $1.86 EPS. On average, equities research analysts forecast that General Motors Company will post $6.13 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Thursday, September 7th. General Motors’s dividend payout ratio is currently 26.48%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GM. Berkshire Hathaway Inc. increased its position in shares of General Motors by 20.0% during 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. Janus Henderson Group PLC increased its position in shares of General Motors by 290.9% during the 2nd quarter. Janus Henderson Group PLC now owns 10,247,171 shares of the auto manufacturer’s stock valued at $357,944,000 after purchasing an additional 7,625,809 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of General Motors by 26,374.8% during the 1st quarter. Clearbridge Investments LLC now owns 3,970,423 shares of the auto manufacturer’s stock valued at $140,394,000 after purchasing an additional 3,955,426 shares during the last quarter. Vanguard Group Inc. increased its position in shares of General Motors by 4.0% during 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. Finally, Prudential Financial Inc. increased its position in shares of General Motors by 129.2% during the 1st quarter. Prudential Financial Inc. now owns 6,068,335 shares of the auto manufacturer’s stock valued at $214,576,000 after purchasing an additional 3,420,200 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.
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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