General Electric Company (GE) Position Raised by Huntington Steele LLC
Huntington Steele LLC increased its position in General Electric Company (NYSE:GE) by 1.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 16,611 shares of the conglomerate’s stock after buying an additional 165 shares during the period. Huntington Steele LLC’s holdings in General Electric were worth $495,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of GE. First Command Financial Services Inc. boosted its stake in shares of General Electric by 0.4% in the first quarter. First Command Financial Services Inc. now owns 53,305 shares of the conglomerate’s stock valued at $1,588,000 after buying an additional 229 shares during the period. Auxier Asset Management boosted its stake in shares of General Electric by 1.9% in the fourth quarter. Auxier Asset Management now owns 12,768 shares of the conglomerate’s stock valued at $403,000 after buying an additional 233 shares during the period. LVW Advisors LLC boosted its stake in shares of General Electric by 0.3% in the fourth quarter. LVW Advisors LLC now owns 111,380 shares of the conglomerate’s stock valued at $3,520,000 after buying an additional 294 shares during the period. Coastline Trust Co boosted its stake in shares of General Electric by 0.4% in the first quarter. Coastline Trust Co now owns 80,412 shares of the conglomerate’s stock valued at $2,396,000 after buying an additional 325 shares during the period. Finally, LVM Capital Management Ltd. MI boosted its stake in shares of General Electric by 1.1% in the first quarter. LVM Capital Management Ltd. MI now owns 31,724 shares of the conglomerate’s stock valued at $945,000 after buying an additional 334 shares during the period. Institutional investors and hedge funds own 54.24% of the company’s stock.
General Electric Company (GE) traded down 0.058% during trading on Friday, hitting $25.745. The stock had a trading volume of 16,032,978 shares. The stock has a 50 day moving average price of $26.94 and a 200 day moving average price of $28.78. General Electric Company has a 12-month low of $25.26 and a 12-month high of $32.38. The company has a market capitalization of $222.90 billion, a price-to-earnings ratio of 31.358 and a beta of 1.21.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. During the same period last year, the business posted $0.51 EPS. General Electric’s revenue was down 11.8% on a year-over-year basis. Equities research analysts forecast that General Electric Company will post $1.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.73%. General Electric’s dividend payout ratio (DPR) is currently 118.52%.
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GE has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Deutsche Bank AG set a $24.00 target price on General Electric and gave the stock a “sell” rating in a research report on Monday, May 29th. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price for the company. in a research report on Thursday, May 11th. Royal Bank Of Canada decreased their target price on General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price objective on General Electric and gave the company a “neutral” rating in a research report on Friday, July 7th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and an average price target of $30.25.
In related news, Chairman Jeffrey R. Immelt purchased 100,000 shares of the stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $28.07 per share, with a total value of $2,807,000.00. Following the acquisition, the chairman now directly owns 2,561,926 shares in the company, valued at $71,913,262.82. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James E. Rohr purchased 27,425 shares of the stock in a transaction on Monday, July 24th. The stock was bought at an average cost of $25.50 per share, for a total transaction of $699,337.50. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 149,270 shares of company stock worth $4,113,059. Insiders own 0.36% of the company’s stock.
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