Aviance Capital Management LLC lowered its position in General Electric Company (NYSE:GE) by 64.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,551 shares of the conglomerate’s stock after selling 46,982 shares during the period. Aviance Capital Management LLC’s holdings in General Electric were worth $761,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. bought a new stake in General Electric during the first quarter worth approximately $106,000. Feltz Wealth PLAN Inc. bought a new stake in General Electric during the first quarter worth approximately $114,000. PHH Investments Ltd. increased its stake in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares in the last quarter. Heritage Way Advisors LLC bought a new stake in General Electric during the fourth quarter worth approximately $205,000. Finally, Cable Hill Partners LLC increased its stake in General Electric by 12.5% in the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock worth $210,000 after buying an additional 780 shares in the last quarter. 54.31% of the stock is currently owned by hedge funds and other institutional investors.
General Electric Company (GE) traded down 0.81% during trading on Friday, hitting $24.55. 34,273,076 shares of the stock were exchanged. The stock’s 50-day moving average price is $25.95 and its 200-day moving average price is $28.34. The firm has a market cap of $212.55 billion, a PE ratio of 29.90 and a beta of 1.21. General Electric Company has a 12-month low of $24.44 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 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 analyst estimates of $29.07 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. The business’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts expect 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 paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio is presently 118.52%.
GE has been the topic of a number of research analyst reports. Vetr raised shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 price objective on the stock in a report on Wednesday, June 7th. Argus decreased their price objective on shares of General Electric from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Monday, April 24th. Stifel Nicolaus boosted their price objective on shares of General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Citigroup Inc. reissued a “buy” rating and set a $34.00 price objective (down previously from $36.00) on shares of General Electric in a report on Monday, July 10th. Finally, UBS AG reissued a “buy” rating and set a $31.00 price objective (down previously from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. General Electric presently has an average rating of “Hold” and a consensus target price of $30.08.
In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’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 sale, the insider now directly owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Leonard Flannery acquired 103,983 shares of General Electric stock in a transaction on Tuesday, August 8th. The shares were purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the purchase, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. Insiders have acquired 133,253 shares of company stock valued at $3,404,264 over the last ninety days. Insiders own 0.36% of the company’s stock.
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