Armor Investment Advisors LLC cut its position in shares of General Electric Company (NYSE:GE) by 6.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,049 shares of the conglomerate’s stock after selling 3,867 shares during the period. General Electric accounts for approximately 1.6% of Armor Investment Advisors LLC’s portfolio, making the stock its 17th largest position. Armor Investment Advisors LLC’s holdings in General Electric were worth $1,647,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of GE. Jafra Capital Management LP acquired a new position in shares of General Electric during the fourth quarter worth approximately $2,370,000. Cpcm LLC acquired a new position in shares of General Electric during the fourth quarter worth approximately $1,503,000. Flinton Capital Management LLC acquired a new position in shares of General Electric during the fourth quarter worth approximately $2,555,000. Old West Investment Management LLC increased its position in shares of General Electric by 4.4% in the fourth quarter. Old West Investment Management LLC now owns 165,812 shares of the conglomerate’s stock worth $5,239,000 after buying an additional 6,998 shares in the last quarter. Finally, Marietta Wealth Management LLC acquired a new position in shares of General Electric during the fourth quarter worth approximately $1,837,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company (NYSE GE) opened at 25.78 on Friday. General Electric Company has a 12-month low of $25.26 and a 12-month high of $32.38. The firm has a market capitalization of $223.20 billion, a price-to-earnings ratio of 31.40 and a beta of 1.21. The stock has a 50 day moving average of $26.94 and a 200 day moving average of $28.78.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The business’s revenue was down 11.8% on a year-over-year basis. Equities research analysts anticipate that General Electric Company will post $1.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio is 118.52%.
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A number of equities analysts have recently commented on the stock. Credit Suisse Group reissued a “buy” rating and issued a $34.00 target price on shares of General Electric in a research note on Tuesday, April 11th. Cowen and Company reissued a “hold” rating and issued a $30.00 target price on shares of General Electric in a research note on Thursday, April 20th. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $30.43 target price on the stock. in a research note on Friday, April 14th. Stifel Nicolaus lifted their price target on shares of General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Finally, Bank of America Corporation downgraded shares of General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $31.00 in a research note on Tuesday, April 25th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $30.25.
In other General Electric news, Chairman Jeffrey R. Immelt acquired 100,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was bought at an average price of $28.07 per share, for a total transaction of $2,807,000.00. Following the purchase, the chairman now owns 2,561,926 shares in the company, valued at approximately $71,913,262.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William G. Beattie acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was acquired at an average price of $27.70 per share, with a total value of $110,800.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 149,270 shares of company stock valued at $4,113,059. Corporate insiders own 0.36% of the company’s stock.
About General Electric
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