Mcmillion Capital Management Inc. Sells 283 Shares of General Electric Company (GE)
Mcmillion Capital Management Inc. reduced its stake in General Electric Company (NYSE:GE) by 0.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,092 shares of the conglomerate’s stock after selling 283 shares during the period. General Electric accounts for about 2.3% of Mcmillion Capital Management Inc.’s portfolio, making the stock its 19th largest position. Mcmillion Capital Management Inc.’s holdings in General Electric were worth $3,400,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GE. Feltz Wealth PLAN Inc. acquired a new position in General Electric during the first quarter valued at $114,000. Heritage Way Advisors LLC acquired a new position in General Electric during the fourth quarter valued at $205,000. Cheviot Value Management LLC acquired a new position in General Electric during the fourth quarter valued at $208,000. Cable Hill Partners LLC increased its position in General Electric by 12.5% in the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock valued at $210,000 after buying an additional 780 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new position in General Electric during the first quarter valued at $214,000. Institutional investors and hedge funds own 54.31% of the company’s stock.
Shares of General Electric Company (GE) traded down 0.28% during trading on Thursday, hitting $25.03. 5,927,963 shares of the company’s stock were exchanged. The company has a market cap of $216.71 billion, a P/E ratio of 30.49 and a beta of 1.21. General Electric Company has a 12-month low of $25.01 and a 12-month high of $32.38. The company has a 50-day moving average of $26.09 and a 200-day moving average of $28.40.
General Electric (NYSE:GE) last released its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analyst estimates of $29.07 billion. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts expect that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Thursday, June 15th. General Electric’s payout ratio is 118.52%.
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Several research analysts have weighed in on the stock. Cowen and Company reiterated a “hold” rating and issued a $24.00 price target on shares of General Electric in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “buy” rating on shares of General Electric in a research report on Wednesday, June 14th. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 price target on the stock in a research report on Wednesday, June 7th. BidaskClub downgraded shares of General Electric from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $22.00 price target on shares of General Electric and gave the stock a “sell” rating in a research report on Monday, July 24th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.08.
In related news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the sale, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Leonard Flannery acquired 103,983 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the acquisition, 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 bought 133,253 shares of company stock valued at $3,404,264 in the last ninety days. Insiders own 0.36% of the company’s stock.
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