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 (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%.
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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.
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