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

General Motors (NYSE:GM) (TSE:GMM.U) announced a quarterly dividend on Monday, July 22nd, RTT News reports. Stockholders of record on Friday, September 6th will be paid a dividend of 0.12 per share by the auto manufacturer on Thursday, September 19th. This represents a $0.48 annualized dividend and a dividend yield of 0.97%.

General Motors has decreased its dividend payment by an average of 1.8% annually over the last three years. General Motors has a dividend payout ratio of 5.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect General Motors to earn $9.59 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 5.0%.

General Motors Stock Performance

Shares of GM stock traded up $1.26 during trading hours on Monday, hitting $49.56. 16,951,299 shares of the company were exchanged, compared to its average volume of 15,704,717. The firm has a fifty day simple moving average of $46.43 and a 200 day simple moving average of $42.71. The stock has a market capitalization of $56.55 billion, a price-to-earnings ratio of 5.90, a P/E/G ratio of 0.51 and a beta of 1.43. General Motors has a 52-week low of $26.30 and a 52-week high of $50.50. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $2.21 EPS. Research analysts predict that General Motors will post 9.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GM shares. Mizuho lifted their target price on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Barclays lifted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Citigroup boosted their price objective on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Wedbush boosted their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, UBS Group boosted their price objective on shares of General Motors from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.96.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the sale, the president now directly owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the sale, the president now directly owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The disclosure for this sale can be found here. Insiders sold a total of 1,152,621 shares of company stock valued at $51,818,111 over the last three months. Corporate insiders own 0.72% of the company’s stock.

General Motors declared that its board has initiated a share repurchase plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.