Sound Income Strategies LLC Raises Stock Position in General Motors (NYSE:GM)

Sound Income Strategies LLC increased its position in shares of General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) by 5.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 32,821 shares of the auto manufacturer’s stock after buying an additional 1,558 shares during the quarter. Sound Income Strategies LLC’s holdings in General Motors were worth $1,104,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of General Motors by 4.0% during the third quarter. Vanguard Group Inc. now owns 111,810,845 shares of the auto manufacturer’s stock worth $3,588,010,000 after buying an additional 4,251,190 shares during the period. State Street Corp increased its stake in shares of General Motors by 1.0% during the third quarter. State Street Corp now owns 57,792,618 shares of the auto manufacturer’s stock worth $1,854,565,000 after buying an additional 572,357 shares during the period. Bank of New York Mellon Corp boosted its holdings in General Motors by 13.5% in the third quarter. Bank of New York Mellon Corp now owns 15,240,329 shares of the auto manufacturer’s stock valued at $489,063,000 after purchasing an additional 1,814,943 shares in the last quarter. Northern Trust Corp boosted its holdings in General Motors by 2.3% in the second quarter. Northern Trust Corp now owns 13,955,204 shares of the auto manufacturer’s stock valued at $443,216,000 after purchasing an additional 311,856 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in General Motors by 19.5% in the second quarter. Franklin Resources Inc. now owns 11,512,388 shares of the auto manufacturer’s stock valued at $365,633,000 after purchasing an additional 1,880,483 shares in the last quarter. 78.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GM shares. Morgan Stanley upped their price target on General Motors from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. Tigress Financial reaffirmed a “strong-buy” rating and issued a $86.00 price target on shares of General Motors in a report on Tuesday, February 21st. Barclays started coverage on General Motors in a report on Tuesday, February 14th. They issued an “equal weight” rating and a $46.00 price target for the company. Berenberg Bank downgraded General Motors from a “buy” rating to a “hold” rating and lowered their price target for the company from $45.00 to $41.00 in a report on Monday, January 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on General Motors from $33.00 to $36.00 in a report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.06.

General Motors Stock Performance

Shares of NYSE GM traded down $1.23 during mid-day trading on Friday, hitting $33.38. 27,743,505 shares of the company were exchanged, compared to its average volume of 16,126,007. The company has a quick ratio of 0.93, a current ratio of 1.10 and a debt-to-equity ratio of 1.06. The stock has a 50 day simple moving average of $38.74 and a 200-day simple moving average of $37.72. General Motors has a 1-year low of $30.33 and a 1-year high of $46.74. The firm has a market cap of $46.55 billion, a price-to-earnings ratio of 5.45, a price-to-earnings-growth ratio of 0.58 and a beta of 1.36.

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 31st. The auto manufacturer reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.44. General Motors had a return on equity of 16.08% and a net margin of 6.34%. The firm had revenue of $43.11 billion during the quarter, compared to the consensus estimate of $40.62 billion. During the same period last year, the company earned $1.35 earnings per share. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, sell-side analysts forecast that General Motors will post 6.21 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Friday, March 3rd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Thursday, March 2nd. General Motors’s dividend payout ratio is presently 5.87%.

Insider Buying and Selling

In other General Motors news, EVP Gerald Johnson sold 15,743 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $42.65, for a total value of $671,438.95. Following the completion of the transaction, the executive vice president now owns 71,209 shares in the company, valued at $3,037,063.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other General Motors news, EVP Gerald Johnson sold 15,743 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $42.65, for a total value of $671,438.95. Following the completion of the transaction, the executive vice president now owns 71,209 shares in the company, valued at $3,037,063.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen K. Carlisle sold 18,000 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $41.97, for a total value of $755,460.00. Following the completion of the transaction, the executive vice president now owns 46,170 shares of the company’s stock, valued at approximately $1,937,754.90. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

General Motors Company Profile

(Get Rating)

General Motors Co engages in the designing, manufacturing, and selling of trucks, crossovers, cars, and automobile parts and in providing software-enabled services and subscriptions. It operates through the following segments: GMNA, GMI, Cruise, and GM Financial. The company was founded by William C.