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

Sound Income Strategies LLC increased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 44.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,324 shares of the auto manufacturer’s stock after buying an additional 710 shares during the period. Sound Income Strategies LLC’s holdings in General Motors were worth $109,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new stake in shares of General Motors during the fourth quarter worth approximately $27,000. Compass Planning Associates Inc purchased a new position in General Motors in the fourth quarter valued at approximately $27,000. Whittier Trust Co. increased its stake in General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 425 shares during the last quarter. Duncker Streett & Co. Inc. increased its stake in General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares during the last quarter. Finally, Transce3nd LLC purchased a new position in General Motors in the fourth quarter valued at approximately $34,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of NYSE GM opened at $49.24 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a fifty day moving average price of $47.35 and a 200 day moving average price of $48.97. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The company has a market cap of $47.34 billion, a PE ratio of 8.01, a P/E/G ratio of 0.67 and a beta of 1.34.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same period last year, the company earned $2.62 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors announced that its board has approved a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, June 6th. This is an increase from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.22%. General Motors’s dividend payout ratio (DPR) is currently 8.65%.

Analyst Ratings Changes

Several equities analysts have commented on GM shares. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research note on Monday, May 5th. UBS Group dropped their price target on shares of General Motors from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research note on Monday, April 14th. The Goldman Sachs Group dropped their price target on shares of General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus target price of $53.35.

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.