General Motors (NYSE:GM) President Sells $11,046,038.32 in Stock

General Motors (NYSE:GM) (TSE:GMM.U) President Mark L. Reuss sold 275,944 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $40.03, for a total transaction of $11,046,038.32. Following the completion of the transaction, the president now owns 479,413 shares in the company, valued at $19,190,902.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NYSE GM traded up $0.07 during midday trading on Tuesday, hitting $39.08. The company’s stock had a trading volume of 7,103,300 shares, compared to its average volume of 9,030,630. The company’s fifty day simple moving average is $38.92. General Motors has a one year low of $30.56 and a one year high of $41.90. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 1.56. The stock has a market cap of $55.33 billion, a price-to-earnings ratio of 5.98, a price-to-earnings-growth ratio of 0.67 and a beta of 1.39.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Thursday, August 1st. The auto manufacturer reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.21. General Motors had a net margin of 6.31% and a return on equity of 21.08%. The company had revenue of $36.06 billion for the quarter, compared to analyst estimates of $36.03 billion. During the same quarter in the previous year, the firm posted $1.81 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, analysts expect that General Motors will post 6.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, September 6th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, September 5th. General Motors’s dividend payout ratio (DPR) is currently 23.24%.

A number of research firms have weighed in on GM. ValuEngine upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, July 23rd. Nomura set a $42.00 target price on shares of General Motors and gave the company a “hold” rating in a research note on Thursday, May 2nd. Credit Suisse Group began coverage on shares of General Motors in a research note on Wednesday, June 26th. They issued an “outperform” rating and a $48.00 target price on the stock. Zacks Investment Research cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Finally, Citigroup boosted their target price on shares of General Motors from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.58.

Hedge funds and other institutional investors have recently bought and sold shares of the company. AGF Investments LLC increased its holdings in General Motors by 28.0% during the 2nd quarter. AGF Investments LLC now owns 1,183 shares of the auto manufacturer’s stock worth $46,000 after acquiring an additional 259 shares during the period. Econ Financial Services Corp increased its holdings in General Motors by 3.3% during the 1st quarter. Econ Financial Services Corp now owns 8,164 shares of the auto manufacturer’s stock worth $303,000 after acquiring an additional 264 shares during the period. Squar Milner Financial Services LLC increased its holdings in General Motors by 4.5% during the 1st quarter. Squar Milner Financial Services LLC now owns 6,412 shares of the auto manufacturer’s stock worth $237,000 after acquiring an additional 275 shares during the period. Cedar Brook Financial Partners LLC increased its holdings in General Motors by 4.2% during the 1st quarter. Cedar Brook Financial Partners LLC now owns 6,827 shares of the auto manufacturer’s stock worth $253,000 after acquiring an additional 276 shares during the period. Finally, Zions Bancorporation N.A. increased its holdings in General Motors by 11.1% during the 1st quarter. Zions Bancorporation N.A. now owns 2,906 shares of the auto manufacturer’s stock worth $108,000 after acquiring an additional 290 shares during the period. 76.62% of the stock is currently owned by institutional investors.

General Motors Company Profile

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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