General Motors Company (NYSE:GM) Plans $0.38 Quarterly Dividend
General Motors Company (NYSE:GM) (TSE:GMM.U) declared a quarterly dividend on Monday, July 24th, RTT News reports. Stockholders of record on Friday, September 8th will be given a dividend of 0.38 per share by the auto manufacturer on Friday, September 22nd. This represents a $1.52 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Thursday, September 7th.
General Motors has a dividend payout ratio of 24.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect General Motors to earn $5.89 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 25.8%.
General Motors (GM) traded down 0.49% during trading on Friday, hitting $34.83. The stock had a trading volume of 7,193,463 shares. The firm has a 50 day moving average of $35.49 and a 200-day moving average of $35.08. The stock has a market cap of $50.75 billion, a price-to-earnings ratio of 6.06 and a beta of 1.45. General Motors has a 12 month low of $30.13 and a 12 month high of $38.55. General Motors also saw unusually large options trading activity on Wednesday. Stock investors purchased 13,561 call options on the stock. This is an increase of 162% compared to the average volume of 5,175 call options.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.17. General Motors had a net margin of 5.38% and a return on equity of 22.45%. The company had revenue of $36.98 billion for the quarter, compared to the consensus estimate of $37.67 billion. During the same period last year, the firm posted $1.86 EPS. General Motors’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts predict that General Motors will post $6.13 earnings per share for the current year.
Several analysts have recently commented on the stock. Berenberg Bank set a $31.00 target price on shares of General Motors and gave the stock a “sell” rating in a research note on Monday, August 14th. BidaskClub upgraded shares of General Motors from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of General Motors from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Vetr upgraded shares of General Motors to a “strong-buy” rating in a research note on Friday, June 9th. Finally, Bank of America Corporation restated a “buy” rating and issued a $40.00 target price (down previously from $44.00) on shares of General Motors in a research note on Friday, June 16th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company’s stock. General Motors presently has an average rating of “Buy” and a consensus target price of $39.26.
In other news, insider Karl-Thomas Neumann sold 46,472 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $32.84, for a total transaction of $1,526,140.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas S. Timko sold 17,255 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $35.79, for a total transaction of $617,556.45. Following the transaction, the vice president now directly owns 26,100 shares in the company, valued at $934,119. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 377,145 shares of company stock worth $13,116,886. 0.04% of the stock is currently owned by corporate insiders.
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About General Motors
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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