General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) announced a quarterly dividend on Wednesday, February 1st, RTT News reports. Investors of record on Friday, March 3rd will be given a dividend of 0.09 per share by the auto manufacturer on Thursday, March 16th. This represents a $0.36 dividend on an annualized basis and a yield of 0.92%.
General Motors has decreased its dividend by an average of 50.9% annually over the last three years. General Motors has a dividend payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect General Motors to earn $5.54 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 6.5%.
General Motors Stock Performance
GM traded down $0.39 during trading hours on Wednesday, hitting $38.93. 8,921,274 shares of the stock were exchanged, compared to its average volume of 16,027,189. The stock has a 50-day simple moving average of $36.81 and a 200-day simple moving average of $37.10. General Motors has a 12 month low of $30.33 and a 12 month high of $55.55. The stock has a market cap of $55.31 billion, a price-to-earnings ratio of 6.61, a price-to-earnings-growth ratio of 0.66 and a beta of 1.33. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.14 and a quick ratio of 0.95.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Wolfe Research lowered General Motors from an “outperform” rating to a “peer perform” rating in a research report on Thursday, November 10th. JPMorgan Chase & Co. dropped their price target on General Motors from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on General Motors from $33.00 to $36.00 in a research report on Wednesday. Bank of America decreased their price target on General Motors from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price target on General Motors from $29.00 to $30.00 and gave the company an “underweight” rating in a research note on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.05.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of GM. Blair William & Co. IL boosted its position in General Motors by 10.6% during the first quarter. Blair William & Co. IL now owns 157,520 shares of the auto manufacturer’s stock valued at $6,890,000 after purchasing an additional 15,117 shares during the last quarter. Aviva PLC lifted its position in shares of General Motors by 32.7% in the first quarter. Aviva PLC now owns 278,485 shares of the auto manufacturer’s stock valued at $12,181,000 after buying an additional 68,683 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of General Motors by 12.8% in the first quarter. Moors & Cabot Inc. now owns 10,767 shares of the auto manufacturer’s stock valued at $471,000 after buying an additional 1,225 shares during the last quarter. Brighton Jones LLC lifted its position in shares of General Motors by 13.9% in the first quarter. Brighton Jones LLC now owns 4,768 shares of the auto manufacturer’s stock valued at $208,000 after buying an additional 581 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its position in shares of General Motors by 5.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 103,800 shares of the auto manufacturer’s stock valued at $4,540,000 after buying an additional 5,184 shares during the last quarter. 78.92% of the stock is owned by institutional investors and hedge funds.
General Motors Company Profile
General Motors Co engages in the designing, manufacturing, and selling of cars, trucks and automobile parts. It also provides automotive financing services through General Motors Financial Company, Inc The firm operates through the following segments: GM North America, GM International, Cruise and GM Financial.
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