General Motors Co (NYSE:GM) Executive Vice President Harvey Rory has recently sold a portion of his company stock, according to the latest filings with the Securities and Exchange Commission. The transaction involved the sale of 5,100 shares of General Motors' common stock at an average price of $43.04 per share, resulting in a total sale value of approximately $219,504.
The shares were sold on March 21, 2024, as detailed in the SEC filing, with the prices ranging from $43.00 to $43.14. Post-transaction, Rory still holds 12,658 shares of General Motors, indicating a continued investment in the company despite the recent sale.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's current valuation and future prospects. While the reasons behind Rory's sale have not been disclosed, the transaction was conducted legally, with the executive undertaking to provide full information regarding the number of shares sold at each price point within the range upon request.
The sale comes amidst a dynamic period for the automotive industry, with companies like General Motors navigating through challenges such as supply chain disruptions, evolving consumer preferences, and the transition towards electric vehicles.
Shareholders and potential investors in General Motors can access the full details of the transaction by referring to the SEC filing, which outlines the specifics of the stock sale and the executive's remaining stake in the company.
InvestingPro Insights
As General Motors Co's (NYSE:GM) Executive Vice President capitalizes on the company's stock performance, InvestingPro data provides a broader context for the company's current financial standing. With a market capitalization of $49.7 billion and an attractive P/E ratio of 5.86, GM appears to be trading at a low earnings multiple relative to near-term earnings growth, as reflected by the adjusted P/E ratio of 4.93 for the last twelve months as of Q4 2023.
The company's revenue growth has been positive overall, with a 9.64% increase over the last twelve months as of Q4 2023. However, the quarterly revenue growth for Q4 2023 showed a slight contraction of 0.3%. Despite this, GM has demonstrated strong returns, with a 20.9% price total return over the last three months and a significant 34.05% return over the last six months.
InvestingPro Tips highlight that management's confidence is reflected in aggressive share buybacks, and analysts have revised their earnings estimates upwards for the upcoming period. Additionally, GM's stock is trading near its 52-week high, with the price at 99.61% of this peak. These indicators, combined with a strong return over recent months, suggest that investor sentiment around General Motors is positive.
For those considering adding GM to their portfolio, there are additional InvestingPro Tips available, including details on the company's free cash flow yield, gross profit margins, and its status as a prominent player in the Automobiles industry. In total, there are 13 InvestingPro Tips that can provide deeper insights for investors. To access these valuable tips, visit https://www.investing.com/pro/GM and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.