General Motors Declares 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. Shareholders of record on Friday, June 7th will be paid 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 raised its dividend every year for the last 1 years. General Motors has a payout ratio of 5.3% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 2.1 %

Shares of NYSE:GM opened at $43.25 on Tuesday. The firm has a fifty day moving average of $41.73 and a two-hundred day moving average of $35.96. The firm has a market capitalization of $49.93 billion, a P/E ratio of 5.92, a price-to-earnings-growth ratio of 0.50 and a beta of 1.51. General Motors has a 12-month low of $26.30 and a 12-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.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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. The company had revenue of $42.98 billion during the quarter, compared to analyst estimates of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $2.12 EPS. On average, equities analysts expect that General Motors will post 9.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GM shares. Piper Sandler initiated coverage on shares of General Motors in a research note on Friday, March 15th. They set a “neutral” rating and a $44.00 target price for the company. Wedbush lifted their price objective on shares of General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Barclays lifted their price objective on shares of General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Tigress Financial lifted their price objective on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada lifted their price objective on shares of General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.57.

Insiders Place Their Bets

In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock valued at $3,614,078 in the last quarter. Insiders own 0.54% of the company’s stock.

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.