General Motors Company (NYSE:GM – Get Free Report) (TSE:GMM.U) EVP Rory Harvey sold 16,513 shares of the company’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $89.64, for a total transaction of $1,480,225.32. Following the completion of the sale, the executive vice president directly owned 12,000 shares of the company’s stock, valued at $1,075,680. This trade represents a 57.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
General Motors Price Performance
GM stock opened at $86.24 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.94 and a current ratio of 1.09. General Motors Company has a 52 week low of $67.06 and a 52 week high of $93.70. The firm’s fifty day moving average is $83.35 and its 200 day moving average is $80.83. The firm has a market cap of $72.75 billion, a P/E ratio of 19.78, a P/E/G ratio of 0.49 and a beta of 1.40.
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, October 20th. The auto manufacturer reported $3.70 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.01. The company had revenue of $50.02 billion for the quarter, compared to analysts’ expectations of $48.78 billion. General Motors had a net margin of 2.12% and a return on equity of 19.36%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.80 EPS. Research analysts predict that General Motors Company will post 13.37 earnings per share for the current year.
General Motors Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, December 4th. General Motors’s dividend payout ratio (DPR) is 16.51%.
General Motors declared that its board has approved a stock buyback program on Tuesday, October 20th that authorizes the company to buy back $20 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 27.5% of its shares through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its stock is undervalued.
Hedge Funds Weigh In On General Motors
A number of hedge funds and other institutional investors have recently made changes to their positions in GM. BlackRock Inc. purchased a new position in General Motors during the 2nd quarter valued at $5,958,995,000. Dimensional Fund Advisors LP raised its holdings in General Motors by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,225,518 shares of the auto manufacturer’s stock worth $1,059,668,000 after purchasing an additional 77,100 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in General Motors by 1.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,559,990 shares of the auto manufacturer’s stock worth $659,804,000 after purchasing an additional 101,885 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of General Motors in the 2nd quarter worth about $629,465,000. Finally, Legal & General Group Plc purchased a new stake in shares of General Motors in the 2nd quarter worth about $599,066,000. Institutional investors own 92.67% of the company’s stock.
General Motors News Summary
Here are the key news stories impacting General Motors this week:
- Positive Sentiment: Higher long-term earnings forecasts: Zacks Research raised its estimates for GM’s 2027 and 2028 earnings, including its FY2028 EPS forecast to $15.10 from $12.70. Zacks Research earnings forecast
- Positive Sentiment: Domestic battery-materials exposure: GM holds a 38% stake in Nevada’s Thacker Pass lithium project, which could support its longer-term EV battery supply chain. GM’s Thacker Pass stake
- Neutral Sentiment: Executive share sale: EVP Rory Harvey sold 16,513 shares under a pre-arranged Rule 10b5-1 plan, reducing his direct holding by 57.9%. The planned nature of the transaction makes it a less clear signal about his outlook. SEC filing
- Negative Sentiment: EV braking recall: GM is recalling about 67,000 Chevrolet and Cadillac EVs over a software issue that could cause loss of braking. An over-the-air fix may limit repair costs, but the safety risk and added scrutiny are concerns. EV braking recall
- Negative Sentiment: Further recall and legal overhangs: Reports describe additional recalls affecting more than 80,000 vehicles, while GM recently agreed to a $220 million settlement with 36 states over allegations involving driver-data practices. Additional vehicle recalls Driver-data settlement
- Negative Sentiment: Costs and product uncertainty: Automakers face higher material, logistics, and memory costs as pricing power weakens. Separately, a report says GM has dropped a planned electric Corvette SUV, raising questions about its EV product strategy. Automaker cost pressures Electric Corvette SUV report
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the company. BNP Paribas Exane increased their target price on General Motors from $102.00 to $112.00 and gave the company an “outperform” rating in a report on Monday, August 31st. Truist Financial set a $105.00 price target on General Motors in a research report on Wednesday, October 7th. Barclays decreased their price target on General Motors from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Royal Bank Of Canada lowered their price objective on General Motors from $102.00 to $98.00 and set an “outperform” rating for the company in a research report on Wednesday, October 21st. Finally, UBS Group dropped their price objective on General Motors from $112.00 to $109.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.
Check Out Our Latest Research Report on GM
About General Motors
General Motors Company designs, manufactures and sells cars, trucks, crossovers and sport utility vehicles. Its vehicle brands include Chevrolet, Buick, GMC and Cadillac, and its offerings also include vehicle parts, software and related services. GM Financial provides automotive financing and leasing products to customers and dealers.
Founded in 1908, General Motors is headquartered in Detroit, Michigan. The company serves customers in North America and international markets, with operations and sales spanning multiple regions.
Mary Barra has served as GM’s chief executive officer since 2014.
Featured Articles
- Five stocks we like better than General Motors
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.
