General Motors (NYSE:GM) Director Alfred F. Kelly, Jr. Acquires 12,000 Shares

General Motors (NYSE:GM) (TSE:GMM.U) Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

General Motors Stock Performance

NYSE GM traded down $0.39 during trading hours on Thursday, reaching $49.39. The company’s stock had a trading volume of 16,417,157 shares, compared to its average volume of 10,730,515. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. The business has a 50-day simple moving average of $52.94 and a 200 day simple moving average of $49.95. General Motors has a 52 week low of $37.60 and a 52 week high of $61.24. The stock has a market cap of $54.31 billion, a PE ratio of 5.27, a PEG ratio of 0.38 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 16.30% and a net margin of 6.06%. Equities research analysts predict that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Wall Street Analyst Weigh In

GM has been the topic of a number of recent research reports. Royal Bank of Canada boosted their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Barclays upped their price target on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a research note on Friday, October 11th. StockNews.com upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.28.

Hedge Funds Weigh In On General Motors

A number of institutional investors and hedge funds have recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL bought a new stake in General Motors in the second quarter worth about $25,000. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the 4th quarter worth approximately $26,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors during the third quarter valued at approximately $27,000. Finally, Truvestments Capital LLC acquired a new position in General Motors in the third quarter worth approximately $27,000. Institutional investors own 92.67% of the company’s stock.

About General Motors

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.