iAB Financial Bank reduced its position in shares of General Electric Company (NYSE:GE) by 0.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,848 shares of the conglomerate’s stock after selling 45 shares during the period. iAB Financial Bank’s holdings in General Electric were worth $740,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Huntington Steele LLC boosted its stake in shares of General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock worth $495,000 after buying an additional 165 shares in the last quarter. Commonwealth Financial Services LLC raised its position in shares of General Electric by 0.9% in the first quarter. Commonwealth Financial Services LLC now owns 23,035 shares of the conglomerate’s stock valued at $690,000 after buying an additional 203 shares during the last quarter. First Command Financial Services Inc. raised its position 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 last quarter. Auxier Asset Management raised its position 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 last quarter. Finally, Coastline Trust Co raised its position 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 last quarter. Hedge funds and other institutional investors own 54.31% of the company’s stock.

Shares of General Electric Company (NYSE:GE) traded down 0.81% on Friday, hitting $24.55. 34,273,076 shares of the stock were exchanged. The company has a 50 day moving average of $25.95 and a 200 day moving average of $28.34. General Electric Company has a 52-week low of $24.44 and a 52-week high of $32.38. The company has a market cap of $212.55 billion, a price-to-earnings ratio of 29.90 and a beta of 1.21.

General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company 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 company earned $0.51 EPS. General Electric’s revenue for the quarter 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were issued a $0.24 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.91%. General Electric’s payout ratio is 118.52%.

ILLEGAL ACTIVITY WARNING: “General Electric Company (GE) Shares Sold by iAB Financial Bank” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another publication, it was stolen and republished in violation of United States & international copyright and trademark laws. The correct version of this report can be viewed at https://www.thecerbatgem.com/2017/08/19/iab-financial-bank-sells-45-shares-of-general-electric-company-ge-updated-updated-updated.html.

GE has been the topic of several research analyst reports. UBS AG reissued a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 price target on shares of General Electric and gave the stock a “sell” rating in a research report on Monday, May 29th. Citigroup Inc. reaffirmed a “buy” rating and set a $34.00 price target (down from $36.00) on shares of General Electric in a research report on Monday, July 10th. Vetr lowered shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 price target on the stock. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price target on shares of General Electric and gave the stock a “neutral” rating in a research report on Friday, July 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $30.08.

In other news, CEO John Leonard Flannery bought 103,983 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the transaction, the chief executive officer now owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James E. Rohr bought 27,425 shares of the company’s stock in a transaction on Monday, July 24th. The stock was purchased 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. Insiders purchased a total of 133,253 shares of company stock valued at $3,404,264 over the last quarter. 0.36% of the stock is owned by corporate insiders.

About General Electric

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

Receive News & Stock Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related stocks with our FREE daily email newsletter.