General Motors (GM) To Go Ex-Dividend on December 6th

by · The Cerbat Gem

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) declared a quarterly dividend on Monday, October 21st, RTT News reports. Stockholders of record on Friday, December 6th will be paid a dividend of 0.12 per share by the auto manufacturer on Thursday, December 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, December 6th.

General Motors has decreased its dividend payment by an average of 1.8% annually over the last three years. General Motors has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect General Motors to earn $9.96 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 4.8%.

General Motors Stock Performance

NYSE GM opened at $53.73 on Wednesday. The business has a 50 day moving average price of $47.33 and a 200 day moving average price of $46.04. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The company has a market capitalization of $61.30 billion, a P/E ratio of 6.57, a PEG ratio of 0.56 and a beta of 1.42. General Motors has a 1-year low of $26.30 and a 1-year high of $54.17.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The business had revenue of $47.97 billion for the quarter, compared to analyst estimates of $45.13 billion. During the same period in the prior year, the business earned $1.91 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that General Motors will post 9.95 EPS for the current fiscal year.

Analyst Ratings Changes

GM has been the subject of a number of analyst reports. Wolfe Research started coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Royal Bank of Canada restated an “outperform” rating and issued a $54.00 price target on shares of General Motors in a report on Wednesday, October 9th. Wells Fargo & Company cut their price objective on shares of General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a report on Monday, August 5th. Finally, Morgan Stanley downgraded shares of General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Motors currently has a consensus rating of “Hold” and an average price target of $55.35.

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Insider Transactions at General Motors

In related news, EVP Rory Harvey sold 12,795 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $417,307.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Paul A. Jacobson purchased 25,000 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was bought at an average cost of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at approximately $11,551,173.92. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 12,795 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

About General Motors

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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.

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