General Motors Declares Quarterly Dividend of $0.12 (NYSE:GM)

General Motors (NYSE:GM) (TSE:GMM.U) announced a quarterly dividend on Monday, October 21st, RTT News reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.12 per share by the auto manufacturer on Thursday, December 19th. This represents a $0.48 annualized dividend and a dividend yield of 0.98%.

General Motors has decreased its dividend by an average of 1.8% per year over the last three years. General Motors has a dividend payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect General Motors to earn $9.96 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 4.8%.

General Motors Price Performance

GM opened at $48.92 on Tuesday. General Motors has a 1 year low of $26.30 and a 1 year high of $50.50. The stock has a fifty day moving average price of $47.13 and a 200 day moving average price of $45.97. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The stock has a market cap of $55.81 billion, a price-to-earnings ratio of 5.98, a PEG ratio of 0.56 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.39. The firm had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.91 earnings per share. Analysts forecast that General Motors will post 9.95 EPS for the current fiscal year.

Insider Activity

In other news, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the acquisition, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now owns 261,872 shares in the company, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GM shares. Wedbush restated an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a research report on Wednesday, October 9th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research report on Monday, August 5th. Barclays upped their price objective on shares of General Motors from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Nomura lowered shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. Finally, Wells Fargo & Company reduced their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating for the company in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.35.

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.