Kovitz Investment Group Partners LLC Sells 855 Shares of General Electric Company (GE)
Kovitz Investment Group Partners LLC lessened its stake in General Electric Company (NYSE:GE) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 97,045 shares of the conglomerate’s stock after selling 855 shares during the period. Kovitz Investment Group Partners LLC’s holdings in General Electric were worth $2,892,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Liberty Capital Management Inc. raised its position in General Electric by 33.6% during the 1st quarter. Liberty Capital Management Inc. now owns 39,453 shares of the conglomerate’s stock valued at $1,176,000 after purchasing an additional 9,916 shares during the last quarter. Private Asset Management Inc. raised its position in General Electric by 3.4% during the 1st quarter. Private Asset Management Inc. now owns 813,924 shares of the conglomerate’s stock valued at $24,255,000 after purchasing an additional 26,519 shares during the last quarter. Moreno Evelyn V raised its position in General Electric by 15.6% during the 1st quarter. Moreno Evelyn V now owns 152,995 shares of the conglomerate’s stock valued at $4,560,000 after purchasing an additional 20,595 shares during the last quarter. First American Trust FSB raised its position in General Electric by 94.0% during the 1st quarter. First American Trust FSB now owns 196,330 shares of the conglomerate’s stock valued at $5,851,000 after purchasing an additional 95,132 shares during the last quarter. Finally, Peachtree Investment Advisors Inc. raised its position in General Electric by 4.6% during the 1st quarter. Peachtree Investment Advisors Inc. now owns 38,712 shares of the conglomerate’s stock valued at $1,154,000 after purchasing an additional 1,700 shares during the last quarter. 54.78% of the stock is owned by institutional investors.
Shares of General Electric Company (GE) traded up 0.0316% during midday trading on Tuesday, reaching $23.7275. The company’s stock had a trading volume of 17,840,761 shares. General Electric Company has a 12-month low of $23.58 and a 12-month high of $32.38. The firm has a market capitalization of $205.43 billion, a P/E ratio of 28.9007 and a beta of 1.22. The stock has a 50-day moving average of $25.03 and a 200 day moving average of $27.74.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 earnings per share. Equities research analysts predict that General Electric Company will post $1.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.05%. General Electric’s dividend payout ratio (DPR) is currently 118.52%.
A number of research analysts have weighed in on the company. Deutsche Bank AG set a $24.00 target price on General Electric and gave the stock a “sell” rating in a report on Saturday, May 20th. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 target price on the stock. in a report on Tuesday, July 4th. Morgan Stanley reiterated an “equal weight” rating and set a $26.00 target price (down previously from $27.00) on shares of General Electric in a report on Monday, July 24th. BidaskClub downgraded General Electric from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $22.00 target price on General Electric and gave the stock a “sell” rating in a report on Monday, July 24th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and an average target price of $29.92.
In other news, Director James S. Tisch acquired 100,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was acquired at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Leonard Flannery acquired 103,983 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was purchased at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the transaction, the chief executive officer now 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. In the last quarter, insiders acquired 233,253 shares of company stock valued at $5,860,264. Insiders own 0.36% of the company’s stock.
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