Alan S. Batey Sells 234,274 Shares of General Motors Company (GM) Stock
General Motors Company (NYSE:GM) (TSE:GMM.U) insider Alan S. Batey sold 234,274 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total transaction of $8,911,782.96. Following the completion of the transaction, the insider now directly owns 67,548 shares in the company, valued at approximately $2,569,525.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
General Motors Company (NYSE GM) opened at 38.88 on Friday. General Motors Company has a 12-month low of $30.21 and a 12-month high of $39.18. The stock has a 50 day moving average of $36.04 and a 200 day moving average of $35.11. 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 results on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) 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 analyst estimates of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.86 EPS. Equities research analysts anticipate that General Motors Company will post $6.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.91%. The ex-dividend date is Thursday, September 7th. General Motors’s dividend payout ratio (DPR) is presently 26.48%.
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A number of equities analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of General Motors in a research note on Tuesday, June 13th. They issued a “market perform” rating and a $33.00 target price on the stock. BidaskClub downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Standpoint Research downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley started coverage on shares of General Motors in a research note on Wednesday, June 28th. They set an “overweight” rating and a $40.00 price target on the stock. Finally, Vetr raised shares of General Motors from a “hold” rating to a “buy” rating and set a $37.42 price target on the stock in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $38.97.
Institutional investors have recently made changes to their positions in the business. YorkBridge Wealth Partners LLC increased its holdings in General Motors by 43.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after buying an additional 860 shares during the period. State of Alaska Department of Revenue bought a new stake in General Motors in the 1st quarter valued at $103,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in General Motors in the 1st quarter valued at $106,000. FNY Managed Accounts LLC bought a new stake in General Motors in the 1st quarter valued at $107,000. Finally, Ffcm LLC increased its holdings in General Motors by 2,008.1% in the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock valued at $120,000 after buying an additional 3,213 shares during the period. 72.21% of the stock is currently owned by hedge funds and other institutional investors.
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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