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

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 yield of 1.06%. The ex-dividend date of this dividend is Friday, June 7th.

General Motors has decreased its dividend payment by an average of 1.8% annually over the last three years and has raised its dividend every year for the last 1 years. General Motors has a dividend payout ratio of 5.3% meaning its dividend is sufficiently covered by earnings. Analysts expect General Motors to earn $9.26 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 Trading Up 4.4 %

NYSE:GM opened at $45.10 on Wednesday. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. The business has a 50 day moving average price of $41.86 and a two-hundred day moving average price of $36.06. The company has a market cap of $52.06 billion, a P/E ratio of 6.17, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. The business’s revenue was up 7.6% on a year-over-year basis. As a group, analysts expect that General Motors will post 9.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GM shares. Royal Bank of Canada increased their price objective on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on General Motors from $27.00 to $28.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 31st. Piper Sandler started coverage on General Motors in a research report on Friday, March 15th. They set a “neutral” rating and a $44.00 price objective on the stock. Barclays increased their price objective on General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group raised their price target on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.52.

Insider Activity at General Motors

In related news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock valued at $3,614,078 over the last ninety days. 0.54% of the stock is owned by corporate insiders.

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.