General Motors Company (GM) Insider Sells $572,800.00 in Stock

General Motors Company (NYSE:GM) (TSE:GMM.U) insider Charles K. Stevens III sold 16,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $35.80, for a total value of $572,800.00. Following the sale, the insider now owns 77,052 shares of the company’s stock, valued at approximately $2,758,461.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of General Motors Company (NYSE:GM) traded down 0.49% during mid-day trading on Friday, hitting $34.83. 7,193,463 shares of the company traded hands. The firm’s 50 day moving average price is $35.49 and its 200-day moving average price is $35.08. General Motors Company has a 1-year low of $30.13 and a 1-year high of $38.55. The stock has a market capitalization of $50.75 billion, a PE ratio of 6.06 and a beta of 1.45. General Motors also saw unusually large options trading activity on Wednesday. Stock investors bought 13,561 call options on the company. This represents an increase of approximately 162% compared to the typical daily volume of 5,175 call options.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 25th. The auto manufacturer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $36.98 billion for the quarter, compared to analysts’ expectations of $37.67 billion. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.86 EPS. On average, equities research analysts forecast that General Motors Company will post $6.13 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Thursday, September 7th. General Motors’s payout ratio is presently 26.48%.

ILLEGAL ACTIVITY WARNING: This piece was first reported by Rincon Hill News and is the sole property of of Rincon Hill News. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The legal version of this piece can be read at https://rinconhillneighbors.org/2017/08/19/charles-k-stevens-iii-sells-16000-shares-of-general-motors-company-gm-stock-updated-updated.html.

A number of equities research analysts have recently weighed in on GM shares. Zacks Investment Research upgraded shares of General Motors from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Wednesday, June 21st. Nomura reiterated a “buy” rating and issued a $47.00 price target on shares of General Motors in a research report on Tuesday, May 2nd. Bank of America Corporation reiterated a “buy” rating and issued a $40.00 price target (down from $44.00) on shares of General Motors in a research report on Friday, June 16th. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $36.00 price target on shares of General Motors in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. General Motors has an average rating of “Buy” and a consensus price target of $39.26.

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of General Motors by 4.0% in the second quarter. Vanguard Group Inc. now owns 93,414,041 shares of the auto manufacturer’s stock worth $3,262,952,000 after buying an additional 3,560,717 shares during the last quarter. BlackRock Inc. boosted its position in shares of General Motors by 1.1% in the second quarter. BlackRock Inc. now owns 78,753,259 shares of the auto manufacturer’s stock worth $2,750,849,000 after buying an additional 850,211 shares during the last quarter. State Street Corp boosted its position in shares of General Motors by 3.9% in the first quarter. State Street Corp now owns 60,423,820 shares of the auto manufacturer’s stock worth $2,136,563,000 after buying an additional 2,252,866 shares during the last quarter. Berkshire Hathaway Inc. boosted its position in shares of General Motors by 20.0% in the second quarter. Berkshire Hathaway Inc. now owns 60,000,000 shares of the auto manufacturer’s stock worth $2,095,800,000 after buying an additional 10,000,000 shares during the last quarter. Finally, Capital World Investors boosted its position in shares of General Motors by 5.0% in the second quarter. Capital World Investors now owns 31,327,192 shares of the auto manufacturer’s stock worth $1,094,259,000 after buying an additional 1,500,500 shares during the last quarter. Institutional investors own 75.56% of the company’s stock.

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.

Insider Buying and Selling by Quarter for General Motors (NYSE:GM)

Receive News & Ratings for General Motors Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors Company and related companies with our FREE daily email newsletter.

 

Latest News



Leave a Reply

 
© 2006-2017 Rincon Hill News.