BTR Capital Management Inc. boosted its stake in shares of General Electric Company (NYSE:GE) by 161.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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.
Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of General Electric during the fourth quarter worth about $2,383,193,000. Trustees of General Electric Pension Trust bought a new position in General Electric during the fourth quarter valued at approximately $1,038,590,000. Teachers Advisors LLC raised its position in General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock valued at $577,734,000 after buying an additional 2,592,455 shares during the period. Asset Management One Co. Ltd. raised its position in General Electric by 848.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 15,458,705 shares of the conglomerate’s stock valued at $488,626,000 after buying an additional 13,828,422 shares during the period. Finally, Aviva PLC raised its position in shares of General Electric by 2.4% in the fourth quarter. Aviva PLC now owns 7,262,148 shares of the conglomerate’s stock worth $229,775,000 after buying an additional 169,825 shares during the last quarter. Institutional investors own 54.29% of the company’s stock.
General Electric Company (GE) traded up 0.59% during trading on Wednesday, hitting $25.71. The company had a trading volume of 29,670,988 shares. The company has a market capitalization of $222.60 billion, a price-to-earnings ratio of 31.32 and a beta of 1.21. The stock has a 50-day moving average of $26.68 and a 200 day moving average of $28.71. General Electric Company has a one year low of $25.26 and a one year high of $32.38.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the prior year, the company earned $0.51 EPS. General Electric’s revenue was down 11.8% compared to the same quarter last year. Equities analysts forecast that General Electric Company will post $1.57 EPS for the current fiscal year.
The company also recently declared 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 3.73%. The ex-dividend date was Thursday, June 15th. General Electric’s payout ratio is 118.52%.
Several equities research analysts recently issued reports on the company. Cowen and Company reissued a “hold” rating and set a $24.00 price target on shares of General Electric in a research report on Monday. UBS AG reissued a “buy” rating and set a $31.00 price target (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Stifel Nicolaus lowered their price objective on General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating and set a $31.00 price objective (down from $34.00) on shares of General Electric in a research note on Monday, July 24th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $26.00 price target (down previously from $27.00) on shares of General Electric in a research note on Monday, July 24th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. General Electric currently has an average rating of “Hold” and an average price target of $30.08.
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 purchased at an average cost of $28.05 per share, for a total transaction of $448,800.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the sale, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The disclosure for this sale can be found here. Insiders bought a total of 253,253 shares of company stock valued at $6,770,864 over the last quarter. 0.36% of the stock is owned by corporate insiders.
About General Electric
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