Prospera Financial Services Inc lowered its position in General Electric Company (NYSE:GE) by 9.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,596 shares of the conglomerate’s stock after selling 10,798 shares during the period. Prospera Financial Services Inc’s holdings in General Electric were worth $2,794,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. BerganKDV Wealth Management LLC boosted its position in General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after buying an additional 36 shares during the period. Insight 2811 Inc. boosted its position in 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 period. Blue Fin Capital Inc. boosted its position in 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 period. Smith Shellnut Wilson LLC ADV boosted its position in 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 period. Finally, Huntington Steele LLC boosted its position in 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 period. 54.31% of the stock is owned by institutional investors.
General Electric Company (NYSE GE) traded down 0.28% on Friday, reaching $24.68. The company had a trading volume of 18,103,199 shares. The company’s 50 day moving average is $26.02 and its 200-day moving average is $28.38. General Electric Company has a one year low of $24.44 and a one year high of $32.38. The firm has a market capitalization of $213.68 billion, a price-to-earnings ratio of 30.06 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 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the previous year, the firm posted $0.51 EPS. The business’s revenue was down 11.8% on a year-over-year basis. On average, equities research analysts expect that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were given a $0.24 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.88%. General Electric’s dividend payout ratio is currently 118.52%.
A number of equities research analysts recently weighed in on GE shares. J P Morgan Chase & Co set a $22.00 price objective on General Electric and gave the stock a “sell” rating in a research report on Monday, July 24th. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $29.71 price objective on the stock. in a research report on Monday, June 12th. Morgan Stanley restated an “equal weight” rating and set a $27.00 price objective on shares of General Electric in a research report on Monday, July 17th. Stifel Nicolaus boosted their price objective on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Finally, Argus reduced their price objective 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. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.08.
In related news, insider Alexander Dimitrief purchased 1,845 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, with a total value of $47,121.30. Following the transaction, the insider now directly owns 65,597 shares in the company, valued at approximately $1,675,347.38. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the sale, the insider now directly owns 175,717 shares in the company, valued at $4,507,141.05. The disclosure for this sale can be found here. Over the last three months, insiders bought 133,253 shares of company stock worth $3,404,264. Insiders own 0.36% of the company’s stock.
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