Country Club Trust Company n.a. Purchases 10,148 Shares of General Electric Co. (GE)
Country Club Trust Company n.a. boosted its stake in shares of General Electric Co. (NYSE:GE) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 579,094 shares of the company’s stock after buying an additional 10,148 shares during the period. General Electric makes up about 2.6% of Country Club Trust Company n.a.’s holdings, making the stock its 3rd largest position. Country Club Trust Company n.a.’s holdings in General Electric were worth $18,230,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Patten & Patten Inc. TN boosted its stake in General Electric by 1.5% in the second quarter. Patten & Patten Inc. TN now owns 640,718 shares of the company’s stock valued at $20,170,000 after buying an additional 9,512 shares in the last quarter. Baxter Bros Inc. bought a new stake in General Electric during the second quarter valued at approximately $11,436,000. Howland Capital Management LLC boosted its stake in General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock valued at $39,526,000 after buying an additional 89,178 shares in the last quarter. Osborn Rohs Williams & Donohoe Ltd boosted its stake in General Electric by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 290,268 shares of the company’s stock valued at $9,138,000 after buying an additional 3,405 shares in the last quarter. Finally, Cacti Asset Management LLC boosted its stake in General Electric by 1.2% in the second quarter. Cacti Asset Management LLC now owns 97,525 shares of the company’s stock valued at $3,070,000 after buying an additional 1,175 shares in the last quarter. 55.81% of the stock is owned by institutional investors and hedge funds.
General Electric Co. (NYSE:GE) traded up 0.42% during midday trading on Friday, hitting $28.89. 28,181,380 shares of the stock traded hands. The firm has a market cap of $258.89 billion, a PE ratio of 24.42 and a beta of 1.15. General Electric Co. has a 12 month low of $27.10 and a 12 month high of $33.00. The company’s 50 day moving average price is $29.97 and its 200 day moving average price is $30.69.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The firm had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities research analysts predict that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. General Electric’s dividend payout ratio (DPR) is currently 77.97%.
Several brokerages recently issued reports on GE. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Morgan Stanley reiterated an “equal weight” rating and issued a $32.00 price target on shares of General Electric in a research note on Monday, July 25th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of General Electric in a research note on Wednesday, July 27th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of General Electric in a research note on Tuesday, June 28th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $34.00 price target on shares of General Electric in a research note on Monday, June 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $32.79.
In related news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were purchased at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the acquisition, the chairman now directly owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.
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