Hemenway Trust Co LLC Has $862,000 Stake in General Electric Company (GE)

Hemenway Trust Co LLC reduced its position in General Electric Company (NYSE:GE) by 42.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,272 shares of the conglomerate’s stock after selling 20,500 shares during the period. Hemenway Trust Co LLC’s holdings in General Electric Company were worth $862,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GE. Macquarie Group Ltd. increased its stake in shares of General Electric Company by 1.6% in the second quarter. Macquarie Group Ltd. now owns 434,765 shares of the conglomerate’s stock worth $13,686,000 after buying an additional 6,735 shares during the last quarter. Cardinal Capital Management Inc. increased its stake in shares of General Electric Company by 1.1% in the third quarter. Cardinal Capital Management Inc. now owns 405,311 shares of the conglomerate’s stock worth $12,005,000 after buying an additional 4,286 shares in the last quarter. Curbstone Financial Management Corp increased its stake in shares of General Electric Company by 0.8% in the third quarter. Curbstone Financial Management Corp now owns 97,360 shares of the conglomerate’s stock worth $2,884,000 after buying an additional 750 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in shares of General Electric Company by 3.4% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 8,689,301 shares of the conglomerate’s stock worth $257,376,000 after buying an additional 284,348 shares in the last quarter. Finally, New England Research & Management Inc. increased its stake in shares of General Electric Company by 9.9% in the third quarter. New England Research & Management Inc. now owns 90,286 shares of the conglomerate’s stock worth $2,674,000 after buying an additional 8,132 shares in the last quarter. 54.68% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for General Electric Company (NYSE:GE)

General Electric Company (NYSE:GE) traded down 2.38% during mid-day trading on Friday, reaching $29.55. 73,748,514 shares of the company traded hands. The company’s 50 day moving average price is $29.83 and its 200 day moving average price is $30.22. General Electric Company has a 12-month low of $28.19 and a 12-month high of $33.00. The firm has a market capitalization of $257.82 billion, a P/E ratio of 33.09 and a beta of 1.20. General Electric Company also was the recipient of some unusual options trading on Thursday. Investors purchased 2,590 call options on the company. This is an increase of 143% compared to the average daily volume of 1,064 call options.

General Electric Company (NYSE:GE) last announced its earnings results on Friday, April 21st. The conglomerate reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm earned $27.66 billion during the quarter, compared to analysts’ expectations of $26.37 billion. General Electric Company had a return on equity of 15.99% and a net margin of 6.86%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. Equities research analysts predict that General Electric Company will post $1.63 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Monday, February 27th will be given a $0.24 dividend. The ex-dividend date is Thursday, February 23rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.17%. General Electric Company’s dividend payout ratio (DPR) is presently 106.67%.

ILLEGAL ACTIVITY NOTICE: “Hemenway Trust Co LLC Has $862,000 Stake in General Electric Company (GE)” was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.com-unik.info/2017/04/21/general-electric-company-ge-shares-sold-by-hemenway-trust-co-llc-updated-updated.html.

GE has been the topic of a number of recent analyst reports. Barclays PLC reaffirmed an “overweight” rating and issued a $36.00 target price on shares of General Electric Company in a research note on Monday, March 20th. Zacks Investment Research downgraded shares of General Electric Company from a “hold” rating to a “sell” rating in a research note on Tuesday, March 7th. JPMorgan Chase & Co. set a $29.00 target price on shares of General Electric Company and gave the company a “sell” rating in a research note on Friday, January 13th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $37.00 target price on shares of General Electric Company in a research note on Thursday, January 5th. Finally, Sanford C. Bernstein set a $38.00 target price on shares of General Electric Company and gave the company a “buy” rating in a research note on Friday, February 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. General Electric Company currently has an average rating of “Hold” and a consensus target price of $33.02.

In other General Electric Company news, Vice Chairman David Leon Joyce sold 159,662 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $29.56, for a total transaction of $4,719,608.72. Following the completion of the sale, the insider now directly owns 738,907 shares of the company’s stock, valued at approximately $21,842,090.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey S. Bornstein acquired 5,000 shares of General Electric Company stock in a transaction on Tuesday, January 31st. The shares were bought at an average cost of $29.63 per share, with a total value of $148,150.00. Following the completion of the purchase, the insider now owns 68,757 shares in the company, valued at $2,037,269.91. The disclosure for this purchase can be found here. 0.23% of the stock is owned by corporate insiders.

About General Electric Company

5 Day Chart for NYSE:GE

What are top analysts saying about General Electric Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for General Electric Company and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit