Jolley Asset Management LLC lowered its stake in shares of General Electric Company (NYSE:GE) by 12.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 145,299 shares of the conglomerate’s stock after selling 19,926 shares during the period. General Electric accounts for 2.7% of Jolley Asset Management LLC’s portfolio, making the stock its 17th largest position. Jolley Asset Management LLC’s holdings in General Electric were worth $3,925,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Ullmann Financial Group Inc. purchased a new stake in General Electric during the first quarter valued at about $106,000. Feltz Wealth PLAN Inc. purchased a new stake in General Electric during the first quarter valued at about $114,000. PHH Investments Ltd. boosted its stake in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares in the last quarter. Empirical Finance LLC purchased a new stake in General Electric during the fourth quarter valued at about $140,000. Finally, Northwest Quadrant Wealth Management LLC purchased a new stake in General Electric during the fourth quarter valued at about $177,000. Hedge funds and other institutional investors own 54.31% of the company’s stock.
Shares of General Electric Company (GE) traded down 0.81% during mid-day trading on Friday, hitting $24.55. 34,273,076 shares of the company were exchanged. The stock’s 50-day moving average price is $25.95 and its 200 day moving average price is $28.34. The stock 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 12-month low of $24.44 and a 12-month high of $32.38.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 earnings per share. On average, equities analysts anticipate that General Electric Company will post $1.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio is 118.52%.
Several equities research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of 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 cut shares of General Electric from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $35.00 to $31.00 in a research report on Tuesday, April 25th. Argus decreased their target price on shares of General Electric from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, April 24th. Royal Bank Of Canada decreased their target price on shares of General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, April 24th. Finally, Vetr raised shares of General Electric from a “hold” rating to a “buy” rating and set a $30.43 target price on the stock in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued 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 price target of $30.08.
In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the transaction, the insider now owns 175,717 shares in the company, valued at $4,507,141.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alexander Dimitrief bought 1,845 shares of General Electric stock in a transaction on Monday, July 24th. The shares were bought at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the acquisition, the insider now owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 133,253 shares of company stock worth $3,404,264. 0.36% of the stock is owned by company insiders.
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