West Coast Financial LLC decreased its position in General Electric Company (NYSE:GE) by 8.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,122 shares of the conglomerate’s stock after selling 886 shares during the period. West Coast Financial LLC’s holdings in General Electric were worth $246,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jarislowsky Fraser Ltd increased its position in shares of 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 period. Discovery Capital Management LLC CT bought a new position in shares of General Electric during the fourth quarter valued at $29,719,000. Smithbridge Asset Management Inc. DE increased its position in shares of General Electric by 47.2% in the second quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock valued at $845,000 after buying an additional 10,025 shares during the period. Roundview Capital LLC increased its position in shares of 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 period. Finally, AE Wealth Management LLC bought a new position in shares of General Electric during the fourth quarter valued at $2,092,000. Hedge funds and other institutional investors own 54.31% of the company’s stock.
General Electric Company (NYSE:GE) opened at 24.55 on Friday. General Electric Company has a 12-month low of $24.44 and a 12-month high of $32.38. The stock has a 50 day moving average price of $25.95 and a 200-day moving average price of $28.34. The firm has a market capitalization of $212.55 billion, a PE ratio of 29.90 and a beta of 1.21.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio is presently 118.52%.
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GE has been the topic of several analyst reports. UBS AG reiterated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Deutsche Bank AG set a $24.00 target price on General Electric and gave the company a “sell” rating in a research note on Monday, May 29th. Citigroup Inc. reiterated a “buy” rating and issued a $34.00 target price (down from $36.00) on shares of General Electric in a research note on Monday, July 10th. Vetr downgraded General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price on the stock. in a research note on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 target price on General Electric and gave the company a “neutral” rating in a research note on Friday, July 7th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. General Electric presently has an average rating of “Hold” and an average target price of $30.08.
In related news, CEO John Leonard Flannery acquired 103,983 shares of General Electric stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the purchase, the chief executive officer now directly owns 509,430 shares in the company, valued at approximately $13,021,030.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander Dimitrief acquired 1,845 shares of General Electric stock in a transaction dated Monday, July 24th. The shares were bought at an average cost of $25.54 per share, with a total value of $47,121.30. Following the completion of the purchase, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 133,253 shares of company stock valued at $3,404,264. Corporate insiders own 0.36% of the company’s stock.
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