Sound Shore Management Inc. CT Sells 1,059,744 Shares of General Motors (NYSE:GM)

Sound Shore Management Inc. CT trimmed its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 49.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,081,595 shares of the auto manufacturer's stock after selling 1,059,744 shares during the quarter. Sound Shore Management Inc. CT owned approximately 0.11% of General Motors worth $57,617,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of General Motors by 19.7% during the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock valued at $488,000 after acquiring an additional 1,510 shares in the last quarter. SYM FINANCIAL Corp bought a new stake in General Motors during the 4th quarter valued at about $474,000. Asset Management One Co. Ltd. raised its holdings in General Motors by 9.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock worth $25,178,000 after buying an additional 39,474 shares during the last quarter. Avantra Family Wealth Inc. bought a new position in shares of General Motors in the fourth quarter worth approximately $1,044,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock valued at $10,763,000 after buying an additional 19,924 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GM shares. Wells Fargo & Company restated an "underweight" rating on shares of General Motors in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised General Motors from a "hold" rating to a "buy" rating and increased their price objective for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. Morgan Stanley raised General Motors from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Finally, Hsbc Global Res cut shares of General Motors from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, General Motors presently has an average rating of "Hold" and a consensus target price of $62.11.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.72% of the company's stock.

General Motors Price Performance

NYSE:GM traded down $0.55 on Friday, reaching $46.65. 18,815,180 shares of the company's stock traded hands, compared to its average volume of 13,329,089. The stock has a 50-day simple moving average of $48.89 and a 200-day simple moving average of $50.53. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The firm has a market cap of $46.42 billion, a PE ratio of 7.59, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities research analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, March 7th. General Motors's dividend payout ratio is presently 7.80%.

General Motors announced that its board has authorized a stock buyback plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

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.