Beacon Financial Group grew its holdings in General Electric Company (NYSE:GE) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 402,796 shares of the conglomerate’s stock after acquiring an additional 9,879 shares during the period. General Electric comprises approximately 2.1% of Beacon Financial Group’s holdings, making the stock its 8th biggest holding. Beacon Financial Group’s holdings in General Electric were worth $10,884,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of GE. Catawba Capital Management VA raised its stake in shares of General Electric by 5.9% in the 1st quarter. Catawba Capital Management VA now owns 185,520 shares of the conglomerate’s stock valued at $5,528,000 after acquiring an additional 10,268 shares during the period. Trust Co raised its stake in shares of General Electric by 0.3% in the 4th quarter. Trust Co now owns 366,572 shares of the conglomerate’s stock valued at $11,584,000 after acquiring an additional 999 shares during the period. Boltwood Capital Management raised its stake in shares of General Electric by 2.4% in the 1st quarter. Boltwood Capital Management now owns 71,320 shares of the conglomerate’s stock valued at $2,125,000 after acquiring an additional 1,700 shares during the period. Cardinal Capital Management Inc. raised its stake in shares of General Electric by 2.2% in the 1st quarter. Cardinal Capital Management Inc. now owns 429,265 shares of the conglomerate’s stock valued at $12,792,000 after acquiring an additional 9,270 shares during the period. Finally, Hills Bank & Trust Co. raised its stake in shares of General Electric by 14.5% in the 1st quarter. Hills Bank & Trust Co. now owns 45,758 shares of the conglomerate’s stock valued at $1,363,000 after acquiring an additional 5,780 shares during the period. 54.71% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company (NYSE GE) traded down 1.51% on Tuesday, hitting $24.09. 17,390,654 shares of the stock traded hands. The firm has a market cap of $208.57 billion, a price-to-earnings ratio of 29.34 and a beta of 1.22. The stock has a 50-day moving average of $24.78 and a 200-day moving average of $27.50. General Electric Company has a 12-month low of $23.58 and a 12-month high of $32.38. General Electric also saw some unusual options trading activity on Monday. Investors purchased 40,129 call options on the company. This represents an increase of approximately 145% compared to the average daily volume of 16,397 call options.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (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 analysts’ expectations of $29.07 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The business’s revenue was down 11.8% on a year-over-year basis. Analysts forecast that General Electric Company will post $1.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio is 118.52%.
In other General Electric news, CEO John Leonard Flannery acquired 103,983 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was bought at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the purchase, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James S. Tisch acquired 100,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 233,253 shares of company stock valued at $5,860,264. Corporate insiders own 0.36% of the company’s stock.
A number of brokerages have recently commented on GE. BidaskClub raised shares of General Electric from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 17th. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $29.97 price target on the stock. in a research note on Monday, June 19th. Bank of America Corporation reaffirmed a “neutral” rating and set a $31.00 price target on shares of General Electric in a research note on Tuesday, June 13th. Cowen and Company reaffirmed a “market perform” rating and set a $30.00 price target on shares of General Electric in a research note on Tuesday, June 13th. Finally, CIBC reaffirmed a “market perform” rating on shares of General Electric in a research note on Wednesday, June 14th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.98.
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General Electric Company Profile
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