General Motors (NYSE:GM) EVP Rory Harvey Sells 12,795 Shares of Stock

General Motors (NYSE:GM) (TSE:GMM.U) EVP Rory Harvey sold 12,795 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total transaction of $627,210.90. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at $417,307.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rory Harvey also recently made the following trade(s):

• On Friday, August 23rd, Rory Harvey sold 2,302 shares of General Motors stock. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62.

General Motors Trading Up 1.0 %

General Motors stock opened at $49.25 on Wednesday. The firm has a market cap of $56.19 billion, a PE ratio of 6.02, a P/E/G ratio of 0.44 and a beta of 1.43. General Motors has a 12 month low of $26.30 and a 12 month high of $50.50. The stock’s 50 day simple moving average is $45.94 and its two-hundred day simple moving average is $44.19. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.91 earnings per share. Analysts anticipate that General Motors will post 9.94 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, September 19th. Investors of record on Friday, September 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.97%. General Motors’s dividend payout ratio is presently 5.87%.

General Motors declared that its board has authorized a stock repurchase program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

GM has been the topic of a number of recent analyst reports. UBS Group upped their price target on General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research note on Monday, August 5th. Wedbush restated an “outperform” rating and set a $55.00 price target on shares of General Motors in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada lowered their target price on shares of General Motors from $58.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.17.

Hedge Funds Weigh In On General Motors

Hedge funds and other institutional investors have recently made changes to their positions in the company. LifeSteps Financial Inc. purchased a new position in shares of General Motors during the 1st quarter worth $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the 2nd quarter worth $28,000. Fortitude Family Office LLC increased its stake in shares of General Motors by 56.1% during the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares during the period. Montag A & Associates Inc. acquired a new position in shares of General Motors during the first quarter worth $30,000. Finally, YHB Investment Advisors Inc. purchased a new stake in General Motors during the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

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.