General Electric Company (GE) Stake Boosted by Texas Capital Bancshares Inc. TX

Texas Capital Bancshares Inc. TX raised its holdings in shares of General Electric Company (NYSE:GE) by 94.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,501 shares of the conglomerate’s stock after purchasing an additional 9,450 shares during the period. General Electric accounts for approximately 1.2% of Texas Capital Bancshares Inc. TX’s investment portfolio, making the stock its 15th biggest holding. Texas Capital Bancshares Inc. TX’s holdings in General Electric were worth $527,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Harris Associates L P increased its position in shares of General Electric by 26.4% in the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after acquiring an additional 9,681,420 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of General Electric by 2.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock valued at $823,943,000 after acquiring an additional 776,656 shares during the period. APG Asset Management N.V. increased its position in shares of General Electric by 0.9% in the 2nd quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock valued at $477,629,000 after acquiring an additional 159,600 shares during the period. US Bancorp DE increased its position in shares of General Electric by 2.2% in the 2nd quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock valued at $309,996,000 after acquiring an additional 243,034 shares during the period. Finally, Bank of Montreal Can increased its position in shares of General Electric by 11.0% in the 2nd quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock valued at $274,401,000 after acquiring an additional 1,005,937 shares during the period. 54.67% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director James S. Tisch bought 100,000 shares of the stock in a transaction on Tuesday, August 22nd. The shares were bought at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Leonard Flannery bought 103,983 shares of the stock in a transaction on Tuesday, August 8th. The shares were bought at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the transaction, 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 233,253 shares of company stock worth $5,860,264 over the last 90 days. 0.36% of the stock is currently owned by company insiders.

General Electric Company (NYSE:GE) opened at 23.58 on Friday. The company has a 50-day moving average of $24.13 and a 200-day moving average of $26.59. The stock has a market capitalization of $204.15 billion, a price-to-earnings ratio of 28.72 and a beta of 1.19. General Electric Company has a 52 week low of $22.83 and a 52 week high of $32.38.

General Electric (NYSE:GE) last issued its earnings results 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 company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts anticipate that General Electric Company will post $1.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, September 15th. This represents a $0.96 annualized dividend and a yield of 4.07%. General Electric’s payout ratio is currently 118.52%.

Several research firms recently issued reports on GE. Goldman Sachs Group, Inc. (The) set a $30.00 target price on General Electric and gave the company a “neutral” rating in a research report on Thursday, June 22nd. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 target price on the stock. in a research report on Tuesday, July 4th. J P Morgan Chase & Co reissued an “underweight” rating and issued a $22.00 target price (down from $27.00) on shares of General Electric in a research report on Thursday, July 6th. BidaskClub downgraded General Electric from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 28th. Finally, Standpoint Research raised General Electric from a “sell” rating to a “hold” rating and set a $24.00 target price on the stock in a research report on Thursday, June 29th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. General Electric currently has a consensus rating of “Hold” and an average price target of $27.93.

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General Electric Company Profile

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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