General Electric Company (GE) Position Maintained by Palisades Hudson Asset Management L.P.
Palisades Hudson Asset Management L.P. continued to hold its stake in shares of General Electric Company (NYSE:GE) during the first quarter, according to its most recent filing with the SEC. The fund owned 24,243 shares of the conglomerate’s stock at the end of the first quarter. General Electric makes up about 0.5% of Palisades Hudson Asset Management L.P.’s portfolio, making the stock its 21st largest position. Palisades Hudson Asset Management L.P.’s holdings in General Electric were worth $722,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Ullmann Financial Group Inc. bought a new stake in shares of General Electric during the first quarter valued at $106,000. Feltz Wealth PLAN Inc. bought a new stake in shares of General Electric during the first quarter valued at $114,000. Heritage Way Advisors LLC bought a new stake in shares of General Electric during the fourth quarter valued at $205,000. Cable Hill Partners LLC boosted its stake in shares of 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 bought a new stake in shares of General Electric during the first quarter valued at $214,000. 54.31% of the stock is currently owned by hedge funds and other institutional investors.
General Electric Company (NYSE:GE) traded down 0.6489% during trading on Friday, hitting $24.5894. The company had a trading volume of 13,292,740 shares. The stock has a market capitalization of $212.89 billion, a price-to-earnings ratio of 29.9505 and a beta of 1.21. General Electric Company has a 52-week low of $24.44 and a 52-week high of $32.38. The firm’s 50 day moving average is $26.02 and its 200-day moving average is $28.38.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the previous year, the company earned $0.51 earnings per share. General Electric’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts forecast that General Electric Company will post $1.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were given a $0.24 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.88%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
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A number of research analysts have recently commented on GE shares. Cowen and Company reaffirmed a “hold” rating and set a $30.00 target price on shares of General Electric in a research note on Thursday, April 20th. Royal Bank Of Canada cut their target price on General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, April 24th. Argus cut their target price on General Electric from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Monday, April 24th. Bank of America Corporation cut General Electric from a “buy” rating to a “neutral” rating and cut their target price for the company from $35.00 to $31.00 in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus upped their target price on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. General Electric presently has an average rating of “Hold” and a consensus target price of $30.08.
In other General Electric news, insider Alexander Dimitrief acquired 1,845 shares of the company’s stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the purchase, the insider now owns 65,597 shares in the company, valued at approximately $1,675,347.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of General Electric stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the transaction, the insider now owns 175,717 shares in the company, valued at $4,507,141.05. The disclosure for this sale can be found here. Over the last three months, insiders purchased 133,253 shares of company stock valued at $3,404,264. 0.36% of the stock is owned by corporate insiders.
About General Electric
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