Xact Kapitalforvaltning AB increased its stake in General Electric Company (NYSE:GE) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 692,303 shares of the conglomerate’s stock after buying an additional 42,534 shares during the period. General Electric accounts for approximately 0.6% of Xact Kapitalforvaltning AB’s investment portfolio, making the stock its 29th largest position. Xact Kapitalforvaltning AB’s holdings in General Electric were worth $20,631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Insight 2811 Inc. raised its position in shares of General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock valued at $1,126,000 after buying an additional 118 shares during the period. Blue Fin Capital Inc. increased its stake in General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock valued at $1,668,000 after buying an additional 158 shares in the last quarter. Huntington Steele LLC increased its stake in General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock valued at $495,000 after buying an additional 165 shares in the last quarter. Commonwealth Financial Services LLC increased its stake in 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 in the last quarter. Finally, First Command Financial Services Inc. increased its stake in 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 in the last quarter. Institutional investors own 54.31% of the company’s stock.

Shares of General Electric Company (NYSE:GE) traded down 0.81% during trading on Friday, reaching $24.55. 34,273,076 shares of the company’s stock traded hands. General Electric Company has a 1-year low of $24.44 and a 1-year high of $32.38. The stock has a 50-day moving average of $25.95 and a 200-day moving average of $28.34. The company has a market capitalization of $212.55 billion, a price-to-earnings ratio of 29.90 and a beta of 1.21.

General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 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 company had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same quarter in the previous year, the company earned $0.51 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts predict that General Electric Company will post $1.57 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were paid a $0.24 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 3.91%. General Electric’s dividend payout ratio is presently 118.52%.

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GE has been the subject of several research analyst reports. Cowen and Company reaffirmed a “hold” rating and set a $30.00 price target on shares of General Electric in a research note on Thursday, April 20th. Royal Bank Of Canada reduced their price objective on shares of General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, April 24th. Argus reduced their price objective on shares of General Electric from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, April 24th. Bank of America Corporation downgraded shares of General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $35.00 to $31.00 in a research note on Tuesday, April 25th. Finally, Stifel Nicolaus boosted their price objective on shares of General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and a consensus target price of $30.08.

In other news, Director James E. Rohr bought 27,425 shares of General Electric stock in a transaction dated Monday, July 24th. The shares were bought at an average price of $25.50 per share, for a total transaction of $699,337.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander Dimitrief bought 1,845 shares of General Electric stock in a transaction dated Monday, July 24th. The stock was purchased at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the purchase, the insider now directly owns 65,597 shares in the company, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. Insiders bought a total of 133,253 shares of company stock worth $3,404,264 in the last 90 days. 0.36% of the stock is owned by corporate insiders.

About General Electric

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

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