Busey Trust CO boosted its stake in General Electric Company (NYSE:GE) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 397,402 shares of the conglomerate’s stock after buying an additional 941 shares during the period. General Electric accounts for approximately 1.4% of Busey Trust CO’s holdings, making the stock its 22nd largest position. Busey Trust CO’s holdings in General Electric were worth $11,843,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in GE. Jarislowsky Fraser Ltd increased its position in General Electric by 5.5% in the fourth quarter. Jarislowsky Fraser Ltd now owns 4,075,563 shares of the conglomerate’s stock valued at $128,787,000 after buying an additional 211,742 shares during the last quarter. Discovery Capital Management LLC CT acquired a new position in General Electric during the fourth quarter valued at approximately $29,719,000. Roundview Capital LLC increased its position in General Electric by 2.0% in the fourth quarter. Roundview Capital LLC now owns 76,472 shares of the conglomerate’s stock valued at $2,417,000 after buying an additional 1,515 shares during the last quarter. AE Wealth Management LLC acquired a new position in General Electric during the fourth quarter valued at approximately $2,092,000. Finally, Banco Santander S.A. acquired a new position in General Electric during the fourth quarter valued at approximately $13,259,000. Institutional investors and hedge funds own 54.29% of the company’s stock.
General Electric Company (NYSE GE) traded down 0.40% on Friday, hitting $25.20. 17,527,358 shares of the stock were exchanged. The company has a market capitalization of $218.18 billion, a PE ratio of 30.69 and a beta of 1.21. General Electric Company has a 1-year low of $25.19 and a 1-year high of $32.38. The company has a 50-day moving average price of $26.35 and a 200 day moving average price of $28.56.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business’s revenue was down 11.8% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. Analysts anticipate that General Electric Company will post $1.57 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio is currently 118.52%.
GE has been the topic of several analyst reports. UBS AG reissued a “buy” rating and set a $31.00 target price (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Stifel Nicolaus increased their target price on shares of General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Deutsche Bank AG set a $24.00 target price on shares of General Electric and gave the stock a “sell” rating in a research report on Monday, May 29th. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price on the stock. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price target on General Electric and gave the company a “neutral” rating in a research report on Friday, July 7th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. General Electric presently has an average rating of “Hold” and a consensus target price of $30.08.
In other news, CEO John Leonard Flannery purchased 103,983 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the transaction, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William G. Beattie purchased 16,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average cost of $28.05 per share, for a total transaction of $448,800.00. The disclosure for this purchase can be found here. Insiders have bought 253,253 shares of company stock valued at $6,770,864 over the last quarter. Corporate insiders own 0.36% of the company’s stock.
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