Busey Trust CO increased its position in shares of General Electric Company (NYSE:GE) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,402 shares of the conglomerate’s stock after buying an additional 941 shares during the period. General Electric makes up about 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.
A number of other large investors also recently bought and sold shares of GE. Pictet Asset Management Ltd. raised its position in shares of General Electric by 0.7% in the first quarter. Pictet Asset Management Ltd. now owns 5,023,829 shares of the conglomerate’s stock worth $149,710,000 after buying an additional 32,899 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in shares of General Electric by 6.5% in the first quarter. Xact Kapitalforvaltning AB now owns 692,303 shares of the conglomerate’s stock worth $20,631,000 after buying an additional 42,534 shares in the last quarter. Trust Co. of Vermont raised its position in shares of General Electric by 2.2% in the first quarter. Trust Co. of Vermont now owns 534,013 shares of the conglomerate’s stock worth $15,914,000 after buying an additional 11,570 shares in the last quarter. Insight 2811 Inc. raised 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 in the last quarter. Finally, HPM Partners LLC raised its position in shares of General Electric by 1,543.4% in the first quarter. HPM Partners LLC now owns 185,162 shares of the conglomerate’s stock worth $5,518,000 after buying an additional 173,895 shares in the last quarter. 54.31% of the stock is currently owned by hedge funds and other institutional investors.
General Electric Company (NYSE:GE) opened at 24.55 on Friday. The company has a market cap of $212.55 billion, a PE ratio of 29.90 and a beta of 1.21. General Electric Company has a one year low of $24.44 and a one year high of $32.38. The firm has a 50-day moving average of $25.95 and a 200-day moving average of $28.34.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The business’s revenue was down 11.8% compared to the same quarter last year. On average, analysts predict that General Electric Company will post $1.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 3.91%. General Electric’s dividend payout ratio (DPR) is currently 118.52%.
A number of brokerages have weighed in on GE. Stifel Nicolaus increased their price target on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Bank of America Corporation lowered General Electric from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $35.00 to $31.00 in a research note on Tuesday, April 25th. Argus reduced their price target on General Electric from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, April 24th. Royal Bank Of Canada dropped their price objective on General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, April 24th. Finally, Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $30.43 price objective for the company in a report on Thursday, April 27th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.08.
In other General Electric news, insider Alexander Dimitrief bought 1,845 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were acquired at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the transaction, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James E. Rohr bought 27,425 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were acquired at an average price of $25.50 per share, for a total transaction of $699,337.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 133,253 shares of company stock worth $3,404,264. 0.36% of the stock is owned by company insiders.
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