Insider Selling: General Motors (NYSE:GM) CFO Sells 34,756 Shares of Stock

General Motors (NYSE:GM) (TSE:GMM.U) CFO Dhivya Suryadevara sold 34,756 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.40, for a total transaction of $1,299,874.40. Following the sale, the chief financial officer now owns 10,741 shares of the company’s stock, valued at $401,713.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of NYSE:GM opened at $39.11 on Friday. The firm has a market cap of $56.59 billion, a price-to-earnings ratio of 5.98, a P/E/G ratio of 0.69 and a beta of 1.27. General Motors has a 12-month low of $30.56 and a 12-month high of $45.00. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.92 and a quick ratio of 0.80.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Wednesday, February 6th. The auto manufacturer reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.22. The business had revenue of $38.40 billion for the quarter, compared to the consensus estimate of $36.31 billion. General Motors had a net margin of 5.45% and a return on equity of 23.99%. General Motors’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. Equities analysts forecast that General Motors will post 6.48 EPS for the current fiscal year.

A number of analysts recently weighed in on GM shares. Seaport Global Securities started coverage on shares of General Motors in a report on Wednesday, February 13th. They set a “buy” rating for the company. Citigroup raised their price objective on shares of General Motors to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 8th. Barclays reaffirmed a “buy” rating and issued a $49.00 price objective on shares of General Motors in a research note on Monday, January 14th. Zacks Investment Research lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Monday, January 7th. Finally, Buckingham Research set a $34.00 price objective on shares of General Motors and gave the stock a “hold” rating in a research note on Friday, January 11th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $47.20.

Institutional investors have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its holdings in General Motors by 2,701.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,064,309 shares of the auto manufacturer’s stock worth $1,018,000 after acquiring an additional 32,848,376 shares during the period. Capital Research Global Investors bought a new position in General Motors in the 3rd quarter worth $480,782,000. Capital World Investors raised its holdings in General Motors by 15.4% in the 3rd quarter. Capital World Investors now owns 83,910,382 shares of the auto manufacturer’s stock worth $2,825,263,000 after acquiring an additional 11,218,495 shares during the period. Norges Bank bought a new position in General Motors in the 4th quarter worth $340,570,000. Finally, Diamond Hill Capital Management Inc. bought a new position in General Motors in the 4th quarter worth $144,112,000. Institutional investors and hedge funds own 77.54% of the company’s stock.

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About General Motors

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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