Norway Savings Bank raised its position in General Electric Company (NYSE:GE) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,354 shares of the conglomerate’s stock after buying an additional 644 shares during the period. General Electric makes up approximately 1.3% of Norway Savings Bank’s investment portfolio, making the stock its 19th largest position. Norway Savings Bank’s holdings in General Electric were worth $1,360,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its position in General Electric by 0.7% in the fourth quarter. FMR LLC now owns 130,741,961 shares of the conglomerate’s stock valued at $4,131,446,000 after buying an additional 900,672 shares during the last quarter. Norges Bank bought a new stake in General Electric during the fourth quarter worth about $2,383,193,000. Harris Associates L P raised its stake in General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after buying an additional 9,681,420 shares in the last quarter. Trustees of General Electric Pension Trust bought a new stake in General Electric during the fourth quarter worth about $1,038,590,000. Finally, Schwab Charles Investment Management Inc. raised its stake in General Electric by 2.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock worth $823,943,000 after buying an additional 776,656 shares in the last quarter. Institutional investors and hedge funds own 54.31% of the company’s stock.
General Electric Company (NYSE GE) traded up 0.63% during midday trading on Monday, reaching $25.36. The company’s stock had a trading volume of 24,292,077 shares. General Electric Company has a 12 month low of $25.19 and a 12 month high of $32.38. The stock’s 50-day moving average price is $26.22 and its 200-day moving average price is $28.46. The firm has a market capitalization of $219.57 billion, a price-to-earnings ratio of 30.89 and a beta of 1.21.
General Electric (NYSE:GE) last released its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. Analysts predict that General Electric Company will post $1.57 EPS for the current 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 $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Thursday, June 15th. General Electric’s payout ratio is presently 118.52%.
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GE has been the topic of a number of analyst reports. UBS AG reaffirmed a “buy” rating and issued a $31.00 price target (down previously from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 price target on General Electric and gave the company a “sell” rating in a research report on Monday, May 29th. Citigroup Inc. reissued a “buy” rating and set a $34.00 target price (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price on the stock. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 target price on General Electric and gave the stock a “neutral” rating in a research report on Friday, July 7th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. General Electric presently has an average rating of “Hold” and an average price target of $30.08.
In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the transaction, the insider now owns 175,717 shares in the company, valued at $4,507,141.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander Dimitrief purchased 1,845 shares of the business’s stock in a transaction on Monday, July 24th. The shares were acquired at an average price of $25.54 per share, with a total value of $47,121.30. Following the purchase, the insider now owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 137,253 shares of company stock valued at $3,515,064. 0.36% of the stock is owned by corporate insiders.
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