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

General Motors (NYSE:GM) (TSE:GMM.U) announced a quarterly dividend on Monday, October 21st, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 0.98%.

General Motors has decreased its dividend by an average of 1.8% annually over the last three years. General Motors has a payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Equities 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

Shares of GM traded down $0.25 during trading hours on Monday, hitting $48.93. 11,395,866 shares of the company were exchanged, compared to its average volume of 15,035,390. The firm has a fifty day simple moving average of $47.01 and a 200-day simple moving average of $45.94. The company has a market capitalization of $55.83 billion, a PE ratio of 6.01, a PEG ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a one year low of $26.30 and a one year high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.39. The firm had revenue of $47.97 billion for 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%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.91 EPS. As a group, sell-side analysts predict that General Motors will post 9.95 earnings per share for the current year.

Analyst Ratings Changes

GM has been the topic of a number of research analyst reports. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $47.00 to $42.00 in a report on Wednesday, September 25th. Wolfe Research began coverage on General Motors in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research note on Monday, August 5th. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a research note on Monday, August 5th. Finally, Wedbush reissued an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Motors currently has a consensus rating of “Hold” and an average price target of $55.35.

Insider Activity

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