Norway Savings Bank raised its position in General Electric Company (NYSE:GE) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,354 shares of the conglomerate’s stock after buying an additional 644 shares during the period. General Electric accounts for about 1.3% of Norway Savings Bank’s portfolio, making the stock its 19th largest position. Norway Savings Bank’s holdings in General Electric were worth $1,360,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in GE. GenTrust LLC acquired a new stake in shares of General Electric during the fourth quarter worth approximately $220,000. Barber Financial Group Inc. acquired a new stake in shares of General Electric during the fourth quarter worth approximately $226,000. Glenview Trust Co acquired a new stake in shares of General Electric during the fourth quarter worth approximately $14,926,000. FMR LLC raised its stake in shares of General Electric by 0.7% in the fourth quarter. FMR LLC now owns 130,741,961 shares of the conglomerate’s stock worth $4,131,446,000 after buying an additional 900,672 shares during the last quarter. Finally, Capital Analysts LLC raised its stake in shares of General Electric by 1.9% in the fourth quarter. Capital Analysts LLC now owns 40,070 shares of the conglomerate’s stock worth $1,266,000 after buying an additional 729 shares during the last quarter. 54.24% of the stock is owned by institutional investors.
Shares of General Electric Company (GE) opened at 26.94 on Thursday. The company has a 50-day moving average price of $27.50 and a 200 day moving average price of $29.16. General Electric Company has a 12-month low of $25.85 and a 12-month high of $32.85. The company has a market capitalization of $233.95 billion, a P/E ratio of 27.43 and a beta of 1.22.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, April 21st. The conglomerate reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. General Electric had a return on equity of 16.59% and a net margin of 7.48%. The company had revenue of $27.66 billion during the quarter, compared to analysts’ expectations of $26.37 billion. During the same period last year, the business posted $0.21 earnings per share. The firm’s revenue was down .7% compared to the same quarter last year. On average, equities analysts anticipate that General Electric Company will post $1.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Thursday, June 15th. General Electric’s dividend payout ratio (DPR) is presently 97.96%.
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A number of analysts recently commented on GE shares. Royal Bank Of Canada reaffirmed a “positive” rating on shares of General Electric in a research note on Wednesday, March 22nd. BMO Capital Markets reissued a “hold” rating on shares of General Electric in a research report on Thursday, March 23rd. J P Morgan Chase & Co reissued a “sell” rating and set a $27.00 price objective on shares of General Electric in a research report on Tuesday, March 28th. Vetr raised General Electric from a “buy” rating to a “strong-buy” rating and set a $33.56 price objective for the company in a research report on Tuesday, March 28th. Finally, William Blair reissued a “buy” rating on shares of General Electric in a research report on Saturday, April 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and a consensus price target of $30.75.
In other General Electric news, Director William G. Beattie purchased 16,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was bought at an average cost of $28.05 per share, for a total transaction of $448,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marijn E. Dekkers purchased 20,000 shares of the firm’s stock in a transaction on Monday, April 24th. The stock was acquired at an average price of $29.90 per share, with a total value of $598,000.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at approximately $29,900. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 140,000 shares of company stock valued at $3,964,600. 0.36% of the stock is currently owned by company insiders.
About General Electric
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