Fayerweather Charles lowered its holdings in General Electric Company (NYSE:GE) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,968 shares of the conglomerate’s stock after selling 875 shares during the period. Fayerweather Charles’ holdings in General Electric were worth $700,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Ullmann Financial Group Inc. purchased a new position in shares of General Electric during the 1st quarter valued at $106,000. Feltz Wealth PLAN Inc. purchased a new position in shares of General Electric during the 1st quarter valued at $114,000. PHH Investments Ltd. lifted its position in shares of General Electric by 105.0% during the 1st 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 during the last quarter. Parametrica Management Ltd purchased a new position in shares of General Electric during the 1st quarter valued at $214,000. Finally, Oakmont Partners LLC lifted its position in shares of General Electric by 3.6% during the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after buying an additional 278 shares during the last quarter. 54.69% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on GE. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $29.97 price target on the stock. in a research report on Monday, June 19th. BidaskClub raised General Electric from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 17th. Bank of America Corporation reaffirmed a “neutral” rating and set a $31.00 price target on shares of General Electric in a research report on Tuesday, June 13th. Cowen and Company reaffirmed a “market perform” rating and set a $30.00 price target on shares of General Electric in a research report on Tuesday, June 13th. Finally, CIBC reaffirmed a “market perform” rating on shares of General Electric in a research report on Wednesday, June 14th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.39.
In other news, insider Alexander Dimitrief bought 1,845 shares of General Electric 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 completion of the acquisition, the insider now owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Rohr bought 27,425 shares of General Electric stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $25.50 per share, for a total transaction of $699,337.50. The disclosure for this purchase can be found here. Insiders bought 233,253 shares of company stock worth $5,860,264 over the last ninety days. Insiders own 0.36% of the company’s stock.
Shares of General Electric Company (NYSE:GE) traded up 0.90% during trading on Tuesday, reaching $23.64. The company’s stock had a trading volume of 42,755,521 shares. The company has a market cap of $204.67 billion, a PE ratio of 28.79 and a beta of 1.19. The company has a 50 day moving average of $24.41 and a 200 day moving average of $26.92. General Electric Company has a 12-month low of $23.25 and a 12-month high of $32.38.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping 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 firm 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 earnings per share. The business’s revenue was down 11.8% compared to the same quarter last year. On average, analysts anticipate that General Electric Company will post $1.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 4.10%. General Electric’s dividend payout ratio (DPR) is 118.52%.
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