Chesley Taft & Associates LLC reduced its position in General Electric Co. (NYSE:GE) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,224 shares of the company’s stock after selling 59,605 shares during the period. General Electric comprises approximately 2.7% of Chesley Taft & Associates LLC’s portfolio, making the stock its 3rd largest position. Chesley Taft & Associates LLC’s holdings in General Electric were worth $26,419,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Barry Investment Advisors LLC raised its position in General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock worth $216,000 after buying an additional 50 shares in the last quarter. Balasa Dinverno & Foltz LLC raised its position in General Electric by 0.3% in the second quarter. Balasa Dinverno & Foltz LLC now owns 29,568 shares of the company’s stock worth $931,000 after buying an additional 79 shares in the last quarter. Check Capital Management Inc. CA raised its position in General Electric by 0.8% in the second quarter. Check Capital Management Inc. CA now owns 10,079 shares of the company’s stock worth $317,000 after buying an additional 81 shares in the last quarter. D. Scott Neal Inc. raised its position in General Electric by 1.3% in the second quarter. D. Scott Neal Inc. now owns 7,441 shares of the company’s stock worth $234,000 after buying an additional 93 shares in the last quarter. Finally, Windward Capital Management Co. CA raised its position in General Electric by 1.2% in the second quarter. Windward Capital Management Co. CA now owns 7,873 shares of the company’s stock worth $248,000 after buying an additional 95 shares in the last quarter. 55.81% of the stock is currently owned by institutional investors.

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

General Electric Co. (NYSE:GE) traded up 0.42% during mid-day trading on Friday, hitting $28.89. The stock had a trading volume of 28,181,380 shares. The firm’s 50-day moving average price is $29.97 and its 200-day moving average price is $30.69. The stock 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 1-year low of $27.10 and a 1-year high of $33.00.

General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. On average, equities analysts expect that General Electric Co. will post $1.50 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is currently 77.97%.

Several equities analysts have recently issued reports on GE shares. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price target on shares of General Electric in a research note on Monday, July 25th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of General Electric in a research note on Wednesday, July 27th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of General Electric in a research note on Tuesday, June 28th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $34.00 price target on shares of General Electric in a research note on Monday, June 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $32.79.

In other news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the purchase, the chairman now owns 2,198,688 shares in the company, valued at $69,148,737.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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