Van Cleef Asset Management Inc raised its position in General Electric Company (NYSE:GE) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,981 shares of the conglomerate’s stock after buying an additional 834 shares during the period. General Electric comprises about 1.1% of Van Cleef Asset Management Inc’s investment portfolio, making the stock its 27th largest position. Van Cleef Asset Management Inc’s holdings in General Electric were worth $3,546,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Jarislowsky Fraser Ltd raised its position in shares of General Electric by 5.5% in the fourth quarter. Jarislowsky Fraser Ltd now owns 4,075,563 shares of the conglomerate’s stock valued at $128,787,000 after buying an additional 211,742 shares during the period. Discovery Capital Management LLC CT bought a new position in shares of General Electric during the fourth quarter valued at approximately $29,719,000. Roundview Capital LLC raised its position in shares of General Electric by 2.0% in the fourth quarter. Roundview Capital LLC now owns 76,472 shares of the conglomerate’s stock valued at $2,417,000 after buying an additional 1,515 shares during the period. AE Wealth Management LLC bought a new position in shares of General Electric during the fourth quarter valued at approximately $2,092,000. Finally, Banco Santander S.A. bought a new position in shares of General Electric during the fourth quarter valued at approximately $13,259,000. Hedge funds and other institutional investors own 54.25% of the company’s stock.
Shares of General Electric Company (GE) opened at 25.53 on Friday. General Electric Company has a 1-year low of $25.26 and a 1-year high of $32.38. The firm’s 50-day moving average is $27.10 and its 200-day moving average is $28.90. The company has a market cap of $221.37 billion, a PE ratio of 31.10 and a beta of 1.22.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a return on equity of 14.60% and a net margin of 6.45%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. On average, equities analysts forecast that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
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Several brokerages have commented on GE. Deutsche Bank AG restated a “neutral” rating and issued a $28.00 price objective on shares of General Electric in a report on Wednesday, April 5th. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $33.56 target price on the stock. in a research report on Tuesday, April 4th. Credit Suisse Group reaffirmed a “buy” rating and issued a $34.00 target price on shares of General Electric in a research report on Tuesday, April 11th. Cowen and Company reaffirmed a “hold” rating and issued a $30.00 target price on shares of General Electric in a research report on Thursday, April 20th. Finally, J P Morgan Chase & Co reaffirmed an “underweight” rating on shares of General Electric in a research report on Monday, April 3rd. 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 issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $30.25.
In related news, Director William G. Beattie bought 16,000 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was bought at an average price of $28.05 per share, with a total value of $448,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Rohr purchased 27,425 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average price of $25.50 per share, for a total transaction of $699,337.50. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 149,270 shares of company stock valued at $4,113,059. 0.36% of the stock is owned by company insiders.
About General Electric
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