General Motors (NYSE:GM) (TSE:GMM.U) declared a quarterly dividend on Wednesday, April 25th, RTT News reports. Stockholders of record on Friday, June 8th will be paid a dividend of 0.38 per share by the auto manufacturer on Friday, June 22nd. This represents a $1.52 annualized dividend and a dividend yield of 4.02%.
General Motors has raised its dividend by an average of 8.2% annually over the last three years. General Motors has a payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Analysts expect General Motors to earn $5.96 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 25.5%.
Shares of NYSE:GM opened at $37.80 on Thursday. General Motors has a 1-year low of $31.92 and a 1-year high of $46.76. The company has a quick ratio of 0.76, a current ratio of 0.89 and a debt-to-equity ratio of 1.86. The firm has a market cap of $53,217.42, a PE ratio of 5.76, a P/E/G ratio of 0.72 and a beta of 1.63.
Several research firms recently commented on GM. Berenberg Bank set a $34.00 price objective on General Motors and gave the stock a “sell” rating in a report on Wednesday, February 7th. JPMorgan Chase reiterated an “overweight” rating and issued a $55.00 price objective (down from $56.00) on shares of General Motors in a report on Tuesday, March 13th. Morgan Stanley reiterated an “equal weight” rating and issued a $45.00 price objective (up from $44.00) on shares of General Motors in a report on Wednesday, March 14th. Zacks Investment Research upgraded General Motors from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, TheStreet downgraded General Motors from a “b” rating to a “c+” rating in a report on Tuesday, March 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Motors presently has an average rating of “Buy” and an average price target of $44.65.
In other news, CAO Thomas S. Timko sold 8,461 shares of General Motors stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $42.06, for a total transaction of $355,869.66. Following the transaction, the chief accounting officer now directly owns 33,519 shares of the company’s stock, valued at approximately $1,409,809.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of General Motors stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $39.71, for a total value of $1,588,400,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,244,405 shares of company stock valued at $1,598,394,926. Corporate insiders own 0.04% of the company’s stock.
About General Motors
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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