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

General Motors (NYSE:GM) (TSE:GMM.U) announced a quarterly dividend on Monday, January 27th,RTT News reports. Investors of record on Friday, March 7th will be paid a dividend of 0.12 per share by the auto manufacturer on Thursday, March 20th. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, March 7th.

General Motors has a payout ratio of 4.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect General Motors to earn $10.75 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 4.5%.

General Motors Price Performance

Shares of NYSE:GM opened at $50.07 on Wednesday. General Motors has a 12 month low of $34.93 and a 12 month high of $61.24. The stock has a market cap of $55.06 billion, a price-to-earnings ratio of 5.34, a PEG ratio of 0.38 and a beta of 1.42. The stock’s 50 day moving average price is $53.14 and its 200 day moving average price is $49.95. 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 (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 16.30% and a net margin of 6.06%. Equities research analysts anticipate that General Motors will post 10.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GM shares. The Goldman Sachs Group lifted their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Wednesday, December 11th. JPMorgan Chase & Co. boosted their target price 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. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Wedbush boosted their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued 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 $61.17.

Insider Buying and Selling

In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company’s stock, valued at approximately $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction that occurred 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 directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 514,344 shares of company stock valued at $28,977,691 over the last quarter. Corporate insiders own 0.72% 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.