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

General Motors (NYSE:GM) (TSE:GMM.U) announced a quarterly dividend on Monday, April 22nd, RTT News reports. Investors of record on Friday, June 7th will be given a dividend of 0.12 per share by the auto manufacturer on Thursday, June 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.11%.

General Motors has decreased its dividend by an average of 1.8% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. General Motors has a dividend payout ratio of 5.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect General Motors to earn $9.25 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 5.2%.

General Motors Price Performance

GM stock opened at $43.25 on Tuesday. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. The stock’s 50 day moving average price is $41.73 and its 200 day moving average price is $35.96. The firm has a market cap of $49.93 billion, a P/E ratio of 5.92, a PEG ratio of 0.50 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The firm had revenue of $42.98 billion for the quarter, compared to analyst estimates of $38.81 billion. During the same quarter in the prior year, the company earned $2.12 EPS. General Motors’s revenue was down .3% on a year-over-year basis. On average, sell-side analysts expect that General Motors will post 9.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GM shares. Redburn Atlantic started coverage on General Motors in a research note on Wednesday, January 24th. They issued a “neutral” rating and a $40.00 target price on the stock. TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Piper Sandler initiated coverage on General Motors in a research note on Friday, March 15th. They set a “neutral” rating and a $44.00 price target on the stock. Tigress Financial increased their price target on General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 15th. Finally, Barclays increased their price target on General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.57.

Insider Buying and Selling

In related news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at $540,315. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is currently owned by company insiders.

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.