Rory Harvey Sells 79,494 Shares of General Motors (NYSE:GM) Stock

General Motors Company (NYSE:GM) (TSE:GMM.U) EVP Rory Harvey sold 79,494 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $83.02, for a total value of $6,599,591.88. Following the sale, the executive vice president owned 46,519 shares of the company’s stock, valued at $3,862,007.38. This represents a 63.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Rory Harvey also recently made the following trade(s):

• On Friday, May 22nd, Rory Harvey sold 5,652 shares of General Motors stock. The shares were sold at an average price of $79.57, for a total value of $449,729.64.

General Motors Stock Up 5.3%

Shares of General Motors stock traded up $4.21 during trading hours on Wednesday, hitting $84.00. 10,365,970 shares of the company’s stock traded hands, compared to its average volume of 7,794,064. The stock has a 50 day simple moving average of $76.30 and a 200-day simple moving average of $77.83. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.41. The company has a market cap of $75.74 billion, a PE ratio of 33.87, a PEG ratio of 0.40 and a beta of 1.29. General Motors Company has a twelve month low of $46.81 and a twelve month high of $87.62.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 28th. The auto manufacturer reported $3.70 earnings per share for the quarter, beating the consensus estimate of $2.61 by $1.09. The company had revenue of $43.62 billion during the quarter, compared to the consensus estimate of $43.51 billion. General Motors had a return on equity of 16.68% and a net margin of 1.38%.The company’s revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $2.78 earnings per share. General Motors has set its FY 2026 guidance at 10.620-12.620 EPS. Equities research analysts anticipate that General Motors Company will post 12.85 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has approved a stock repurchase program on Tuesday, January 27th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 8.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Friday, June 5th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. General Motors’s dividend payout ratio (DPR) is presently 29.03%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating and set a $95.00 price target on shares of General Motors in a research report on Monday, May 11th. Jefferies Financial Group increased their price target on shares of General Motors from $85.00 to $97.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Zacks Research cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 27th. TD Cowen raised their target price on shares of General Motors from $122.00 to $126.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Benchmark raised their target price on shares of General Motors from $65.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and a consensus price target of $94.65.

Hedge Funds Weigh In On General Motors

A number of large investors have recently bought and sold shares of GM. Brighton Jones LLC lifted its holdings in General Motors by 456.1% in the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer’s stock worth $2,062,000 after acquiring an additional 31,755 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of General Motors by 61.4% during the second quarter. Sivia Capital Partners LLC now owns 18,548 shares of the auto manufacturer’s stock valued at $913,000 after buying an additional 7,058 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of General Motors by 4.8% during the second quarter. Baird Financial Group Inc. now owns 37,524 shares of the auto manufacturer’s stock valued at $1,847,000 after buying an additional 1,706 shares during the last quarter. Jump Financial LLC raised its holdings in shares of General Motors by 45.7% during the second quarter. Jump Financial LLC now owns 25,366 shares of the auto manufacturer’s stock valued at $1,248,000 after buying an additional 7,951 shares during the last quarter. Finally, AXA S.A. raised its holdings in shares of General Motors by 69.4% during the second quarter. AXA S.A. now owns 66,547 shares of the auto manufacturer’s stock valued at $3,275,000 after buying an additional 27,270 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

About General Motors

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.