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

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

General Motors has decreased its dividend payment 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. Equities 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

Shares of GM stock traded down $0.25 during trading hours on Monday, hitting $48.93. The company’s stock had a trading volume of 11,395,866 shares, compared to its average volume of 15,035,390. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The stock has a market cap of $55.83 billion, a price-to-earnings ratio of 6.01, a P/E/G ratio of 0.56 and a beta of 1.42. The business has a fifty day moving average of $47.01 and a 200-day moving average of $45.94.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. General Motors’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 earnings per share. As a group, equities research analysts anticipate that General Motors will post 9.95 EPS for the current year.

Analyst Ratings Changes

GM has been the subject of several recent analyst reports. Nomura cut 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. Barclays raised their price target on General Motors from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group raised their price objective on General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company dropped 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 report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, General Motors has an average rating of “Hold” and a consensus price target of $55.35.

Insider Activity

In related news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $417,307.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Paul A. Jacobson acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

General Motors Company Profile

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.