General Motors (GM) To Go Ex-Dividend on June 7th

General Motors (NYSE:GM) (TSE:GMM.U) declared a quarterly dividend on Monday, April 22nd, RTT News reports. Stockholders of record on Friday, June 7th will be given a dividend of 0.12 per share by the auto manufacturer on Thursday, June 20th. This represents a $0.48 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, June 7th.

General Motors has decreased its dividend by an average of 1.8% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. General Motors has a payout ratio of 5.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect General Motors to earn $9.26 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 Stock Performance

NYSE:GM opened at $45.10 on Wednesday. General Motors has a twelve month low of $26.30 and a twelve month high of $46.04. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The company has a 50-day moving average of $41.86 and a 200-day moving average of $36.06. The firm has a market cap of $52.06 billion, a price-to-earnings ratio of 6.17, a price-to-earnings-growth ratio of 0.51 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The company had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same quarter last year, the firm posted $2.21 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts forecast that General Motors will post 9.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on GM shares. Wells Fargo & Company upped their price objective on shares of General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Wednesday, January 31st. Royal Bank of Canada upped their price objective on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday. Morgan Stanley upped their price objective on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Finally, Mizuho increased their price target on shares of General Motors from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.52.

Insider Activity at General Motors

In related news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other General Motors news, EVP Gerald Johnson sold 15,190 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.03, for a total transaction of $608,055.70. Following the transaction, the executive vice president now owns 98,628 shares in the company, valued at $3,948,078.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is currently owned by corporate insiders.

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.