Keel Point LLC decreased its position in General Electric Company (NYSE:GE) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,292 shares of the conglomerate’s stock after selling 1,087 shares during the period. Keel Point LLC’s holdings in General Electric were worth $783,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in GE. Insight 2811 Inc. increased its position in General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after buying an additional 118 shares in the last quarter. Blue Fin Capital Inc. increased its position in General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock worth $1,668,000 after buying an additional 158 shares in the last quarter. Huntington Steele LLC increased its position in General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock worth $495,000 after buying an additional 165 shares in the last quarter. Commonwealth Financial Services LLC increased its position in General Electric by 0.9% in the first quarter. Commonwealth Financial Services LLC now owns 23,035 shares of the conglomerate’s stock worth $690,000 after buying an additional 203 shares in the last quarter. Finally, Meridian Investment Counsel Inc. increased its position in General Electric by 0.3% in the first quarter. Meridian Investment Counsel Inc. now owns 65,895 shares of the conglomerate’s stock worth $1,964,000 after buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 54.29% of the company’s stock.
Shares of General Electric Company (NYSE:GE) traded down 0.40% on Friday, reaching $25.20. 19,217,278 shares of the company’s stock traded hands. The company’s 50-day moving average is $26.28 and its 200-day moving average is $28.52. The firm has a market capitalization of $218.18 billion, a P/E ratio of 30.69 and a beta of 1.21. General Electric Company has a 52 week low of $25.19 and a 52 week high of $32.38.
General Electric (NYSE:GE) last released its earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. Equities research analysts anticipate that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s payout ratio is currently 118.52%.
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GE has been the topic of a number of recent analyst reports. UBS AG reaffirmed a “buy” rating and set a $31.00 price target (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Stifel Nicolaus increased 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. Deutsche Bank AG set a $24.00 price target on shares of General Electric and gave the stock a “sell” rating in a research note on Monday, May 29th. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 price target on the stock. in a research note on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price target on shares of General Electric and gave the stock a “neutral” rating in a research note on Friday, July 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $30.08.
In related news, Director James E. Rohr bought 27,425 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $25.50 per share, for a total transaction of $699,337.50. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Jeffrey R. Immelt bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price 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 disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 253,253 shares of company stock valued at $6,770,864. Corporate insiders own 0.36% of the company’s stock.
General Electric Company Profile
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