Meeder Asset Management Inc. reduced its stake in shares of General Electric Company (NYSE:GE) by 66.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,209 shares of the conglomerate’s stock after selling 8,203 shares during the period. Meeder Asset Management Inc.’s holdings in General Electric were worth $114,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Ullmann Financial Group Inc. bought a new position in General Electric during the 1st quarter worth $106,000. Feltz Wealth PLAN Inc. bought a new position in General Electric during the 1st quarter worth $114,000. PHH Investments Ltd. raised its position in General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares during the last quarter. Parametrica Management Ltd bought a new position in General Electric during the 1st quarter worth $214,000. Finally, Oakmont Partners LLC raised its position in General Electric by 3.6% during the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after purchasing an additional 278 shares during the last quarter. 54.69% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $27.00 target price on shares of General Electric in a research report on Monday, July 17th. J P Morgan Chase & Co set a $22.00 target price on General Electric and gave the stock a “sell” rating in a research report on Tuesday, September 19th. Stifel Nicolaus reaffirmed a “buy” rating on shares of General Electric in a research report on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $31.00 target price on shares of General Electric in a research report on Friday, September 15th. Finally, Vetr raised General Electric from a “strong sell” rating to a “sell” rating and set a $21.63 target price for the company in a research report on Monday, October 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $28.28.
General Electric Company (NYSE:GE) traded down 1.691% during trading on Wednesday, reaching $22.965. The company’s stock had a trading volume of 46,159,463 shares. The firm has a market cap of $1.56 billion, a PE ratio of 21.264 and a beta of 1.19. The company has a 50-day moving average of $24.37 and a 200 day moving average of $26.88. General Electric Company has a one year low of $22.90 and a one year high of $32.38.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts expect that General Electric Company will post $1.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio is 118.52%.
WARNING: “Meeder Asset Management Inc. Has $114,000 Position in General Electric Company (GE)” was reported by Community Financial News and is owned by of Community Financial News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.com-unik.info/2017/10/11/meeder-asset-management-inc-has-114000-position-in-general-electric-company-ge.html.
In other General Electric news, CEO John Leonard Flannery bought 103,983 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was acquired at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the purchase, the chief executive officer now owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James S. Tisch bought 100,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were acquired at an average cost of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. Insiders have acquired 233,253 shares of company stock valued at $5,860,264 in the last ninety days. Insiders own 0.36% of the company’s stock.
General Electric Company Profile
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric Company (NYSE:GE).
What are top analysts saying about General Electric Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for General Electric Company and related companies.