Bridges Investment Management Inc. Buys 7,024 Shares of General Electric Company (GE)
Bridges Investment Management Inc. grew its stake in General Electric Company (NYSE:GE) by 5.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,631 shares of the conglomerate’s stock after acquiring an additional 7,024 shares during the quarter. Bridges Investment Management Inc.’s holdings in General Electric were worth $3,880,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Harris Associates L P increased its stake in shares of General Electric by 26.4% in the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after acquiring an additional 9,681,420 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of General Electric by 2.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock worth $823,943,000 after purchasing an additional 776,656 shares during the period. APG Asset Management N.V. grew its holdings in shares of General Electric by 0.9% during the 2nd quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock worth $477,629,000 after purchasing an additional 159,600 shares during the period. US Bancorp DE grew its holdings in shares of General Electric by 2.2% during the 2nd quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock worth $309,996,000 after purchasing an additional 243,034 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of General Electric by 11.0% during the 2nd quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock worth $274,401,000 after purchasing an additional 1,005,937 shares during the period. 54.78% of the stock is owned by institutional investors and hedge funds.
General Electric Company (NYSE:GE) traded down 0.13% during mid-day trading on Monday, hitting $23.79. The company had a trading volume of 21,165,462 shares. The firm has a market cap of $205.97 billion, a P/E ratio of 28.98 and a beta of 1.22. General Electric Company has a 52-week low of $23.58 and a 52-week high of $32.38. The stock’s 50 day moving average price is $25.02 and its 200 day moving average price is $27.76.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS. On average, equities research analysts predict that General Electric Company will post $1.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be given a $0.24 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 4.03%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
In other General Electric news, Director James E. Rohr bought 27,425 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was acquired at an average price of $25.50 per share, with a total value of $699,337.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander Dimitrief bought 1,845 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was acquired at an average cost of $25.54 per share, with a total value of $47,121.30. Following the transaction, the insider now owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is currently owned by insiders.
A number of research firms have recently weighed in on GE. J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the stock a “sell” rating in a report on Monday, July 24th. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $29.71 target price for the company. in a report on Monday, June 12th. Morgan Stanley restated an “equal weight” rating and set a $27.00 target price on shares of General Electric in a report on Monday, July 17th. CIBC restated a “market perform” rating on shares of General Electric in a report on Wednesday, June 14th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of General Electric in a report on Wednesday, June 14th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $30.08.
General Electric Company Profile
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