Osborne Partners Capital Management LLC cut its stake in General Electric Company (NYSE:GE) by 0.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 505,025 shares of the conglomerate’s stock after selling 2,350 shares during the period. General Electric accounts for approximately 2.2% of Osborne Partners Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Osborne Partners Capital Management LLC’s holdings in General Electric were worth $15,050,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Capital Analysts LLC raised its position 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 valued at $1,266,000 after buying an additional 729 shares in the last quarter. Hunter Associates Investment Management LLC increased its position in shares of General Electric by 2.7% in the fourth quarter. Hunter Associates Investment Management LLC now owns 120,757 shares of the conglomerate’s stock worth $3,816,000 after buying an additional 3,171 shares during the period. CWA Asset Management Group LLC increased its position in shares of General Electric by 20.2% in the fourth quarter. CWA Asset Management Group LLC now owns 100,336 shares of the conglomerate’s stock worth $3,171,000 after buying an additional 16,828 shares during the period. O Shaughnessy Asset Management LLC increased its position in shares of General Electric by 10.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 865,127 shares of the conglomerate’s stock worth $27,338,000 after buying an additional 84,597 shares during the period. Finally, Amtrust Financial Services Inc. bought a new position in shares of General Electric during the fourth quarter worth about $1,253,000. Institutional investors and hedge funds own 54.29% of the company’s stock.
Shares of General Electric Company (NYSE GE) traded down 0.27% during trading on Tuesday, reaching $25.56. The company had a trading volume of 27,143,122 shares. The firm’s 50 day moving average price is $26.68 and its 200 day moving average price is $28.71. The firm has a market capitalization of $221.30 billion, a P/E ratio of 31.13 and a beta of 1.21. General Electric Company has a 12 month low of $25.26 and a 12 month high of $32.38.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the previous year, the company posted $0.51 EPS. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. Equities analysts predict that General Electric Company will post $1.57 EPS for the current year.
The company also recently disclosed 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 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s payout ratio is 118.52%.
Several research firms have weighed in on GE. Cowen and Company restated a “hold” rating and issued a $24.00 price target on shares of General Electric in a research note on Monday. Stifel Nicolaus decreased their price objective on General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, July 25th. J P Morgan Chase & Co set a $22.00 price objective on General Electric and gave the stock a “sell” rating in a report on Monday, July 24th. Citigroup Inc. reaffirmed a “buy” rating and set a $31.00 price objective (down from $34.00) on shares of General Electric in a report on Monday, July 24th. Finally, Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $28.93 price target on the stock in a report on Wednesday, June 7th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $30.08.
In other General Electric news, insider Alexander Dimitrief acquired 1,845 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the acquisition, the insider now owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey R. Immelt acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average price of $28.07 per share, with a total value of $2,807,000.00. Following the completion of the acquisition, the chairman now directly owns 2,561,926 shares of the company’s stock, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 149,270 shares of company stock worth $4,113,059. Corporate insiders own 0.36% of the company’s stock.
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