General Motors (GM) to Issue Quarterly Dividend of $0.12 on December 19th

General Motors (NYSE:GM) (TSE:GMM.U) declared a quarterly dividend on Monday, October 21st,RTT News reports. Stockholders 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 dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th.

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 4.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect General Motors to earn $10.49 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 4.6%.

General Motors Stock Performance

NYSE:GM opened at $53.66 on Wednesday. The firm has a market cap of $59.00 billion, a price-to-earnings ratio of 5.72, a price-to-earnings-growth ratio of 0.42 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. General Motors has a 1-year low of $32.60 and a 1-year high of $61.24. The firm’s fifty day moving average price is $51.81 and its 200 day moving average price is $48.22.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same period in the previous year, the business posted $2.28 earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts expect that General Motors will post 10.35 EPS for the current year.

Insider Transactions at General Motors

In other news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the transaction, the executive vice president now owns 122,465 shares of the company’s stock, valued at $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock worth $56,509,286 over the last ninety days. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GM. Sanford C. Bernstein upped their price objective on General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. Wolfe Research assumed coverage on shares of General Motors in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Barclays raised their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group upped their target price on shares of General Motors from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, DZ Bank downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research report on Friday, October 11th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.92.

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.