BTR Capital Management Inc. boosted its stake in General Electric Company (NYSE:GE) by 161.5% during the first quarter, Holdings Channel reports. The firm owned 198,551 shares of the conglomerate’s stock after buying an additional 122,617 shares during the period. BTR Capital Management Inc.’s holdings in General Electric were worth $5,917,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Wilkins Investment Counsel Inc. raised its stake in shares of General Electric by 8.7% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 136,558 shares of the conglomerate’s stock valued at $4,315,000 after buying an additional 10,925 shares during the period. Cypress Capital Management LLC raised its stake in shares of General Electric by 6.4% in the fourth quarter. Cypress Capital Management LLC now owns 510,293 shares of the conglomerate’s stock valued at $16,125,000 after buying an additional 30,565 shares during the period. Frontier Wealth Management LLC raised its stake in shares of General Electric by 27.8% in the fourth quarter. Frontier Wealth Management LLC now owns 151,841 shares of the conglomerate’s stock valued at $4,798,000 after buying an additional 33,072 shares during the period. SSI Investment Management Inc. raised its stake in shares of General Electric by 7.2% in the fourth quarter. SSI Investment Management Inc. now owns 28,285 shares of the conglomerate’s stock valued at $893,000 after buying an additional 1,906 shares during the period. Finally, LBA Wealth Management LLC raised its stake in shares of General Electric by 10.7% in the fourth quarter. LBA Wealth Management LLC now owns 8,056 shares of the conglomerate’s stock valued at $255,000 after buying an additional 776 shares during the period. 54.24% of the stock is owned by institutional investors.
Shares of General Electric Company (NYSE:GE) opened at 25.91 on Friday. The stock’s 50 day moving average price is $27.48 and its 200-day moving average price is $29.14. General Electric Company has a 12 month low of $25.26 and a 12 month high of $32.38. The company has a market cap of $225.00 billion, a P/E ratio of 26.38 and a beta of 1.22. General Electric also was the recipient of unusually large options trading on Thursday. Stock traders purchased 35,785 put options on the stock. This represents an increase of approximately 143% compared to the typical volume of 14,713 put options.
General Electric (NYSE:GE) last released its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 16.59% and a net margin of 7.48%. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter last year, the business posted $0.51 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. Equities research analysts expect that General Electric Company will post $1.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Investors of record on Monday, June 19th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Thursday, June 15th. General Electric’s payout ratio is presently 118.52%.
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Several brokerages recently weighed in on GE. Deutsche Bank AG reissued a “neutral” rating and issued a $28.00 price objective on shares of General Electric in a report on Wednesday, April 5th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $33.56 price objective for the company. in a report on Tuesday, April 4th. Credit Suisse Group reissued a “buy” rating and issued a $34.00 price objective on shares of General Electric in a report on Tuesday, April 11th. Cowen and Company reissued a “hold” rating and issued a $30.00 price objective on shares of General Electric in a report on Thursday, April 20th. Finally, J P Morgan Chase & Co reissued an “underweight” rating on shares of General Electric in a report on Monday, April 3rd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $31.08.
In other news, Chairman Jeffrey R. Immelt purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average cost of $28.07 per share, with a total value of $2,807,000.00. Following the completion of the purchase, the chairman now owns 2,561,926 shares in the company, valued at $71,913,262.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marijn E. Dekkers purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were purchased at an average cost 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 three months, insiders have purchased 140,000 shares of company stock valued at $3,964,600. 0.36% of the stock is owned by corporate insiders.
General Electric Company Profile
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