General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) dropped 2.8% on Monday following insider selling activity. The stock traded as low as $38.51 and last traded at $38.87. Approximately 4,748,801 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 14,429,070 shares. The stock had previously closed at $40.00.Specifically, President Mark L. Reuss sold 9,300 shares of General Motors stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $41.00, for a total transaction of $381,300.00. Following the completion of the sale, the president now directly owns 282,973 shares of the company’s stock, valued at approximately $11,601,893. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Mark L. Reuss sold 9,300 shares of the business’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $41.00, for a total value of $381,300.00. Following the completion of the sale, the president now directly owns 282,973 shares of the company’s stock, valued at approximately $11,601,893. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul A. Jacobson bought 31,000 shares of General Motors stock in a transaction dated Friday, May 19th. The stock was purchased at an average cost of $32.60 per share, with a total value of $1,010,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 186,847 shares in the company, valued at approximately $6,091,212.20. The disclosure for this purchase can be found here. 0.54% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
GM has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on General Motors from $30.00 to $32.00 in a research note on Monday, July 10th. Jefferies Financial Group upped their price objective on General Motors from $37.00 to $39.00 in a research note on Friday, July 7th. Citigroup increased their target price on General Motors from $85.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 12th. Bank of America increased their target price on General Motors from $70.00 to $72.00 in a research note on Thursday, July 6th. Finally, Royal Bank of Canada raised their price objective on General Motors from $46.00 to $48.00 in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $50.00.
General Motors Stock Down 3.3 %
The firm has a market capitalization of $53.78 billion, a price-to-earnings ratio of 6.18, a P/E/G ratio of 0.58 and a beta of 1.36. The stock has a 50 day moving average of $35.89 and a 200 day moving average of $36.42. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 1.05.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, April 25th. The auto manufacturer reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.68. The company had revenue of $39.99 billion during the quarter, compared to the consensus estimate of $39.38 billion. General Motors had a return on equity of 15.74% and a net margin of 5.84%. General Motors’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 earnings per share. As a group, analysts expect that General Motors will post 6.94 earnings per share for the current fiscal year.
General Motors Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, June 2nd were issued a dividend of $0.09 per share. The ex-dividend date was Thursday, June 1st. This represents a $0.36 annualized dividend and a yield of 0.93%. General Motors’s payout ratio is 5.56%.
Institutional Investors Weigh In On General Motors
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of General Motors by 0.7% during the 1st quarter. BlackRock Inc. now owns 126,529,253 shares of the auto manufacturer’s stock valued at $4,641,093,000 after acquiring an additional 819,371 shares in the last quarter. State Street Corp raised its position in shares of General Motors by 0.7% during the first quarter. State Street Corp now owns 56,981,032 shares of the auto manufacturer’s stock valued at $2,090,060,000 after buying an additional 383,957 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in General Motors by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 22,349,234 shares of the auto manufacturer’s stock worth $819,770,000 after purchasing an additional 7,585,746 shares in the last quarter. Franklin Resources Inc. grew its stake in General Motors by 60.5% during the first quarter. Franklin Resources Inc. now owns 15,784,315 shares of the auto manufacturer’s stock worth $578,969,000 after buying an additional 5,948,464 shares during the last quarter. Finally, Morgan Stanley grew its stake in General Motors by 6.5% during the fourth quarter. Morgan Stanley now owns 15,011,042 shares of the auto manufacturer’s stock worth $504,972,000 after buying an additional 921,435 shares during the last quarter. Institutional investors own 78.83% 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.