Access Financial Services Inc. boosted its stake in shares of General Electric Company (NYSE:GE) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,151 shares of the conglomerate’s stock after buying an additional 3,305 shares during the period. General Electric comprises approximately 1.3% of Access Financial Services Inc.’s holdings, making the stock its 18th largest position. Access Financial Services Inc.’s holdings in General Electric were worth $1,544,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in GE. Insight 2811 Inc. increased its position in shares of General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after buying an additional 118 shares during the last quarter. Blue Fin Capital Inc. increased its position in shares of General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock worth $1,668,000 after buying an additional 158 shares during the last quarter. Smith Shellnut Wilson LLC ADV increased its position in shares of General Electric by 0.7% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 22,582 shares of the conglomerate’s stock worth $711,000 after buying an additional 160 shares during the last quarter. Huntington Steele LLC increased its position in shares of General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock worth $495,000 after buying an additional 165 shares during the last quarter. Finally, Arbor Investment Advisors LLC increased its position in shares of General Electric by 1.4% in the second quarter. Arbor Investment Advisors LLC now owns 12,627 shares of the conglomerate’s stock worth $341,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 54.29% of the company’s stock.
General Electric Company (GE) traded down 0.40% during trading on Friday, reaching $25.20. The company’s stock had a trading volume of 19,217,278 shares. The company’s 50 day moving average price is $26.35 and its 200-day moving average price is $28.56. General Electric Company has a 1-year low of $25.19 and a 1-year high of $32.38. The stock has a market cap of $218.18 billion, a P/E ratio of 30.69 and a beta of 1.21.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same quarter last year, the company earned $0.51 EPS. The company’s revenue was down 11.8% on a year-over-year basis. Equities analysts forecast that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio is presently 118.52%.
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A number of research analysts recently weighed in on GE shares. Vetr downgraded General Electric from a “buy” rating to a “hold” rating and set a $30.43 price objective on the stock. in a research note on Friday, April 14th. Cowen and Company reissued a “hold” rating and issued a $30.00 price objective on shares of General Electric in a research note on Thursday, April 20th. Royal Bank Of Canada cut their price objective on General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, April 24th. Argus dropped their price target on General Electric from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, April 24th. Finally, Bank of America Corporation downgraded General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $31.00 in a research report on Tuesday, April 25th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $30.08.
In other news, Chairman Jeffrey R. Immelt acquired 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price of $28.07 per share, with a total value of $2,807,000.00. Following the acquisition, the chairman now directly owns 2,561,926 shares in the company, valued at approximately $71,913,262.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Leonard Flannery acquired 103,983 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average cost of $25.56 per share, for a total transaction of $2,657,805.48. Following the acquisition, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 253,253 shares of company stock worth $6,770,864. Company insiders own 0.36% of the company’s stock.
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