General Electric Co. (GE) Shares Sold by First Allied Advisory Services Inc.
First Allied Advisory Services Inc. decreased its stake in General Electric Co. (NYSE:GE) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 353,955 shares of the company’s stock after selling 1,450 shares during the period. General Electric comprises approximately 0.6% of First Allied Advisory Services Inc.’s portfolio, making the stock its 27th largest position. First Allied Advisory Services Inc.’s holdings in General Electric were worth $11,128,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Chelsea Counsel Co. raised its position in shares of General Electric by 1.7% in the first quarter. Chelsea Counsel Co. now owns 166,072 shares of the company’s stock valued at $5,280,000 after buying an additional 2,700 shares in the last quarter. Catamount Wealth Management raised its position in shares of General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares in the last quarter. Nexus Investment Management Inc. raised its position in shares of General Electric by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 691,285 shares of the company’s stock valued at $21,762,000 after buying an additional 2,600 shares in the last quarter. Kistler Tiffany Companies LLC raised its position in shares of General Electric by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 111,883 shares of the company’s stock valued at $3,522,000 after buying an additional 672 shares in the last quarter. Finally, First PREMIER Bank raised its position in shares of General Electric by 2.8% in the second quarter. First PREMIER Bank now owns 74,098 shares of the company’s stock valued at $2,332,000 after buying an additional 1,990 shares in the last quarter. 55.76% of the stock is owned by institutional investors and hedge funds.
General Electric Co. (NYSE:GE) traded up 0.99% during trading on Friday, reaching $30.71. The company’s stock had a trading volume of 42,712,372 shares. General Electric Co. has a 12 month low of $27.10 and a 12 month high of $33.00. The stock’s 50-day moving average is $29.21 and its 200 day moving average is $30.40. The company has a market cap of $271.67 billion, a P/E ratio of 26.47 and a beta of 1.20.
General Electric (NYSE:GE) last released its earnings results on Friday, October 21st. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.64 billion. General Electric had a net margin of 8.93% and a return on equity of 16.08%. General Electric’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, equities analysts forecast that General Electric Co. will post $1.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, September 15th. General Electric’s payout ratio is 80.00%.
Several research firms have recently weighed in on GE. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $32.72 price objective on the stock. in a research note on Monday, October 31st. Sanford C. Bernstein set a $33.00 price objective on General Electric and gave the company a “neutral” rating in a research note on Monday, October 24th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $26.00 price objective on shares of General Electric in a research note on Thursday, August 11th. RBC Capital Markets set a $36.00 price objective on General Electric and gave the company a “buy” rating in a research note on Friday, October 21st. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $37.00 price objective on shares of General Electric in a research note on Thursday, October 6th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $32.57.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of General Electric stock in a transaction on Wednesday, November 9th. The stock was acquired at an average cost of $29.24 per share, with a total value of $1,462,000.00. Following the transaction, the chairman now owns 2,248,688 shares of the company’s stock, valued at approximately $65,751,637.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.
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